Intangible Assets and Goodwill

6 Months Ended

Jun. 30, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill

The following tables present goodwill information for the six months ended June 30, 2020 (in thousands):


	As of December 31, 2019		Adjustment to Goodwill *		As of June 30, 2020
Total goodwill	$	183,465	$	(243)	$	183,222

_________________________________________

* Working capital adjustments related to the acquisition of Northwest Logic.


	As of June 30, 2020
	Gross Carrying Amount		Accumulated Impairment Losses		Net Carrying Amount
Total goodwill	$	204,992	$	(21,770)	$	183,222

Intangible Assets, Net

The components of the Company’s intangible assets as of June 30, 2020 and December 31, 2019 were as follows:


		As of June 30, 2020
(In thousands)	Useful Life	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Existing technology	3 to 10 years	$	262,789	$	(222,171)	$	40,618
Customer contracts and contractual relationships	0.5 to 10 years	36,293		(33,887)		2,406
Non-compete agreements and trademarks	3 years	300		(300)		—
In-process research and development	Not applicable	2,600		—		2,600
Total intangible assets		$	301,982	$	(256,358)	$	45,624


		As of December 31, 2019
(In thousands)	Useful Life	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Existing technology	3 to 10 years	$	262,789	$	(213,354)	$	49,435
Customer contracts and contractual relationships	0.5 to 10 years	36,293		(33,428)		2,865
Non-compete agreements and trademarks	3 years	300		(300)		—
In-process research and development	Not applicable	2,600		—		2,600
Total intangible assets		$	301,982	$	(247,082)	$	54,900

During the three and six months ended June 30, 2020, the Company did not purchase or sell any intangible assets.

Amortization expense for intangible assets for the three and six months ended June 30, 2020 was $4.6 million and $9.3 million, respectively. Amortization expense for intangible assets for the three and six months ended June 30, 2019 was $4.9 million and $9.9 million, respectively. The estimated future amortization of intangible assets as of June 30, 2020 was as follows (in thousands):


Years Ending December 31:	Amount
2020 (remaining six months)	$	9,137
2021	14,411
2022	7,444
2023	6,740
2024	5,292
Thereafter	—
Total amortizable purchased intangible assets	43,024
In-process research and development	2,600
Total intangible assets	$	45,624

It is reasonably possible that the businesses could perform significantly below the Company’s expectations or a deterioration of market and economic conditions could occur. This would adversely impact the Company’s ability to meet its projected results, which could cause the goodwill of its reporting unit or long-lived assets in any of its asset groups to become impaired. Significant differences between these estimates and actual cash flows could materially affect the Company’s future financial results. If the Company determines that its goodwill or long-lived assets are impaired, it would be required to record a non-cash charge that could have a material adverse effect on its results of operations and financial position.