Intangible Assets and Goodwill

3 Months Ended

Mar. 31, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill

The following tables present goodwill information for the three months ended March 31, 2022:


(In thousands)	As of December 31, 2021		Adjustment to Goodwill (1)		As of March 31, 2022
Total goodwill	$	278,810	$	983	$	279,793

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(1) During the three months ended March 31, 2022, the Company corrected an immaterial error related to an understatement in other current liabilities that originated from the acquisition of AnalogX in 2021.


	As of March 31, 2022
(In thousands)	Gross Carrying Amount		Accumulated Impairment Losses		Net Carrying Amount
Total goodwill	$	301,563	$	(21,770)	$	279,793

Intangible Assets, Net

The components of the Company’s intangible assets as of March 31, 2022 and December 31, 2021 were as follows:


		As of March 31, 2022
(In thousands)	Useful Life	Gross Carrying Amount (1)		Accumulated Amortization (1)		Net Carrying Amount
Existing technology	3 to 10 years	$	295,058	$	(250,892)	$	44,166
Customer contracts and contractual relationships	0.5 to 10 years	37,793		(35,525)		2,268
Non-compete agreements and trademarks	3 years	300		(300)		—
In-process research and development	Not applicable	11,200		—		11,200
Total intangible assets		$	344,351	$	(286,717)	$	57,634

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(1) During the three months ended March 31, 2022, the Company acquired certain intangible assets for $3.0 million in cash. The assets were classified as existing technology and are being amortized over their expected useful life of five years. During the three months ended March 31, 2022, the amortization for the acquired assets was not material.


		As of December 31, 2021
(In thousands)	Useful Life	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Existing technology	3 to 10 years	$	292,058	$	(247,422)	$	44,636
Customer contracts and contractual relationships	0.5 to 10 years	37,793		(35,209)		2,584
Non-compete agreements and trademarks	3 years	300		(300)		—
In-process research and development (“IPR&D”)	Not applicable	11,200		—		11,200
Total intangible assets		$	341,351	$	(282,931)	$	58,420

Amortization expense for intangible assets for the three months ended March 31, 2022 and 2021 was $3.8 million and $4.6 million, respectively.

The estimated future amortization of intangible assets as of March 31, 2022 was as follows (in thousands):


Years Ending December 31:	Amount
2022 (remaining nine months)	$	11,221
2023	14,091
2024	11,780
2025	5,780
2026	3,462
Thereafter	100
Total amortizable purchased intangible assets	46,434
IPR&D	11,200
Total intangible assets	$	57,634