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Intangible Assets and Goodwill (Tables)
 9 Months Ended
Sep. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of changes in carrying amount of goodwill
The following tables present goodwill information for the nine months ended September 30, 2023:
(In thousands)As of December 31, 2022
Divestiture of
Goodwill (1)
As of September 30, 2023
Total goodwill$292,040 $(5,228)$286,812 
_________________________________________
(1)    In September 2023, the Company divested its PHY IP group, which resulted in the Company recognizing a decrease in goodwill based on the relative fair value of the Company’s single reporting unit in proportion to the fair value of the divested PHY IP group. Refer to Note 17, “Divestiture,” for additional information.
Components of intangible assets
The components of the Company’s intangible assets as of September 30, 2023 and December 31, 2022 were as follows:
  As of September 30, 2023
(In thousands)Useful Life
Gross Carrying
Amount (1)
Accumulated
 Amortization (1)
Net Carrying
 Amount
Existing technology (1)
3 to 10 years
$286,712 $(262,663)$24,049 
Customer contracts and contractual relationships (1)
0.5 to 10 years
37,496 (36,930)566 
Trademarks
3 years
300 (300)— 
In-process research and development (“IPR&D”) (1)
Not applicable7,400 — 7,400 
Total intangible assets $331,908 $(299,893)$32,015 
_________________________________________
(1)    In September 2023, the Company disposed of approximately $7.4 million of net intangible assets (including $3.8 million of IPR&D) in connection with the divestiture of the Company’s PHY IP group. Refer to Note 17, “Divestiture,” for additional information.
  As of December 31, 2022
(In thousands)Useful Life
Gross Carrying
 Amount
Accumulated
 Amortization
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 
Trademarks
3 years
300 (300)— 
IPR&DNot applicable11,200 — 11,200 
Total intangible assets $349,421 $(298,541)$50,880 
Estimated future amortization of intangible assets
The estimated future amortization of intangible assets as of September 30, 2023 was as follows (in thousands):
Years Ending December 31:Amount
2023 (remaining three months)$3,513 
202411,468 
20255,430 
20263,742 
2027462 
Thereafter— 
Total amortizable purchased intangible assets24,615 
IPR&D7,400 
Total intangible assets$32,015