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Intangible Assets and Goodwill | 12 Months Ended
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Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract] |
Intangible Assets and Goodwill | Intangible Assets and Goodwill Goodwill The following tables present goodwill information for the years ended December 31, 2022 and December 31, 2021:
(In thousands) |  | December 31, 2021 |  | Addition to Goodwill (1) |  | Adjustments to Goodwill (2) |  | Effect of Exchange Rates (3) |  | December 31, 2022
Total goodwill |  | $ | 278,810 |  |  | $ | 12,069 |  |  | $ | 1,013 |  |  | $ | 148 |  |  | $ | 292,040 |
______________________________________ (1) In May 2022, the Company acquired Hardent, Inc. (“Hardent”), which resulted in the Company recognizing additional goodwill. Refer to Note 20, “Acquisitions,” for additional information. (2) The adjustments to goodwill primarily include a correction of an immaterial error related to an understatement in other current liabilities that originated from the acquisition of AnalogX Inc. (“AnalogX”) in 2021 and working capital adjustments from the acquisition of Hardent. (3) Effect of exchange rates relates to foreign currency translation adjustments for the period.
|  | As of December 31, 2022
(In thousands) |  | Gross Carrying Amount |  | Accumulated Impairment Losses |  | Net Carrying Amount
Total goodwill |  | $ | 313,810 |  |  | $ | (21,770) |  |  | $ | 292,040 |
(In thousands) |  | December 31, 2020 |  | Additions to Goodwill (1) |  |  |  |  |  | December 31, 2021
Total goodwill |  | $ | 183,222 |  |  | $ | 95,588 |  |  |  |  |  |  | $ | 278,810 |
______________________________________ (1) In July 2021, the Company acquired AnalogX and in August 2021, the Company acquired PLDA, which resulted in the Company recognizing additional goodwill. Refer to Note 20, “Acquisitions,” for additional information.
|  | As of December 31, 2021
(In thousands) |  | Gross Carrying Amount |  | Accumulated Impairment Losses |  | Net Carrying Amount
Total goodwill |  | $ | 300,580 |  |  | $ | (21,770) |  |  | $ | 278,810 |
Intangible Assets, Net The components of the Company’s intangible assets as of December 31, 2022 and December 31, 2021 were as follows:
|  |  | As of December 31, 2022
(In thousands, except useful life) | Useful Life |  | Gross Carrying Amount (1) |  | Accumulated Amortization (1) |  | Net Carrying Amount
Existing technology | 3 to 10 years |  | $ | 299,925 |  |  | $ | (261,708) |  |  | $ | 38,217 |
Customer contracts and contractual relationships | 0.5 to 10 years |  | 37,996 |  |  | (36,533) |  |  | 1,463 |
Non-compete agreements and trademarks | 3 years |  | 300 |  |  | (300) |  |  | — |
IPR&D | Not applicable |  | 11,200 |  |  | — |  |  | 11,200 |
Total intangible assets |  |  | $ | 349,421 |  |  | $ | (298,541) |  |  | $ | 50,880 |
______________________________________ (1) During the year ended December 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 year ended December 31, 2022, the amortization for the acquired assets was not material. (2) In May 2022, the Company acquired Hardent, which resulted in the Company recognizing additional intangible assets. Refer to Note 20, “Acquisitions,” for additional information.
|  |  | As of December 31, 2021
(In thousands, except useful life) | Useful Life |  | Gross Carrying Amount (1) |  | Accumulated Amortization (1) |  | 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) |  |  | — |
IPR&D | Not applicable |  | 11,200 |  |  | — |  |  | 11,200 |
Total intangible assets |  |  | $ | 341,351 |  |  | $ | (282,931) |  |  | $ | 58,420 |
______________________________________ (1) In July 2021, the Company acquired AnalogX and in August 2021, the Company acquired PLDA, which resulted in the Company recognizing additional intangible assets. Refer to Note 20, “Acquisitions,” for additional information. Amortization expense for intangible assets for the years ended December 31, 2022, 2021, and 2020 was $15.6 million, $17.5 million, and $18.4 million, respectively. The estimated future amortization expense of intangible assets as of December 31, 2022 was as follows (in thousands):
Years Ending December 31: | Amount
2023 | $ | 15,388 |
2024 | 12,736 |
2025 | 6,696 |
2026 | 4,378 |
2027 | 482 |
Thereafter | — |
Total amortizable purchased intangible assets | 39,680 |
IPR&D | 11,200 |
Total intangible assets | $ | 50,880 |

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