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Intangible Assets and Liabilities | 6 Months Ended
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Jun. 30, 2024
Intangible Assets, Net (Excluding Goodwill) [Abstract] |
Intangible Assets and Liabilities | Intangible Assets and Liabilities The gross carrying amount and accumulated amortization (accretion) of our intangible assets and liabilities, other than goodwill, were as follows:
| June 30, 2024 |  | December 31, 2023
In thousands | Gross |  | Accumulated (Amortization) Accretion |  | Net |  | Gross |  | Accumulated (Amortization) Accretion |  | Net
Intangible Assets |  |  |  |  |  |  |  |  |  |  |
Core-developed technology | $ | 512,185 |  |  | $ | (498,767) |  |  | $ | 13,418 |  |  | $ | 502,010 |  |  | $ | (499,571) |  |  | $ | 2,439 |
Customer contracts and relationships | 327,053 |  |  | (289,556) |  |  | 37,497 |  |  | 329,688 |  |  | (287,653) |  |  | 42,035 |
Trademarks and trade names | 72,495 |  |  | (70,925) |  |  | 1,570 |  |  | 73,461 |  |  | (71,740) |  |  | 1,721 |
Other | 12,019 |  |  | (11,960) |  |  | 59 |  |  | 12,019 |  |  | (11,932) |  |  | 87 |
Total intangible assets | $ | 923,752 |  |  | $ | (871,208) |  |  | $ | 52,544 |  |  | $ | 917,178 |  |  | $ | (870,896) |  |  | $ | 46,282 |
Intangible Liabilities |  |  |  |  |  |  |  |  |  |  |
Customer contracts and relationships | $ | (23,900) |  |  | $ | 23,900 |  |  | $ | — |  |  | $ | (23,900) |  |  | $ | 23,900 |  |  | $ | — |
A summary of intangible assets and liabilities activity is as follows:
| Six Months Ended June 30,
In thousands | 2024 |  | 2023
Intangible assets, gross beginning balance | $ | 917,178 |  |  | $ | 905,134 |
Intangible assets acquired (1) | 15,000 |  |  | — |
Effect of change in exchange rates | (8,426) |  |  | 7,202 |
Intangible assets, gross ending balance | $ | 923,752 |  |  | $ | 912,336 |
Intangible liabilities, gross beginning balance | $ | (23,900) |  |  | $ | (23,900) |
Effect of change in exchange rates | — |  |  | — |
Intangible liabilities, gross ending balance | $ | (23,900) |  |  | $ | (23,900) |
(1) On March 1, 2024, we completed the acquisition of 100% of the shares Elpis2, Inc. (Elpis Squared), a privately held software and services company. The purchase resulted in the addition of intangible assets of $15.0 million including $12.5 million identified core-developed technology and $2.5 million of customer contracts and relationships. The core-developed technology and customer contract and relationships will be amortized over the weighted-average five-year and three-year useful lives, respectively, using the straight-line method. Refer to Note 5: Goodwill and Note 17: Business Combination for additional information. Assumed intangible liabilities reflect the present value of the projected cash outflows for an existing contract where remaining costs were expected to exceed projected revenues. Estimated future annual amortization is as follows:
Year Ending December 31, |  | Estimated Annual Amortization |  |  |  |
In thousands |  |
2024 (amount remaining at June 30, 2024) |  | $ | 9,334 |  |  |  |  |
2025 |  | 17,660 |  |  |  |  |
2026 |  | 13,652 |  |  |  |  |
2027 |  | 8,275 |  |  |  |  |
2028 |  | 2,681 |  |  |  |  |
Thereafter |  | 942 |  |  |  |  |
Total intangible assets subject to amortization |  | $ | 52,544 |  |  |  |  |

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