6. Intangible Assets

The intangible assets primarily consist of $4.1 million of IPR&D from the acquisition of VisLab S.r.l., or VisLab, in June 2015 and $9.2 million of a noncancelable software licenses, net of amortization expense. Acquired IPR&D is capitalized at fair value and the amortization commences upon completion of the underlying projects. When a project underlying reported IPR&D is completed, the corresponding amount of IPR&D is reclassified as an amortizable purchased intangible asset and is amortized over its estimated useful life. As of April 30, 2018, there was no IPR&D amortized. The Company will determine the project incorporating the VisLab IPR&D to be completed when a related chip begins mass production to address the level 3 and above advanced driving assistance systems markets.

The Company enters into certain internal-use noncancelable software license agreements with third parties from time-to-time. The licenses have been capitalized as intangible assets, and the corresponding future payments have been recorded as liabilities at net present value. As of April 30, 2018, $4.4 million was recorded in accrued and other current liabilities and $3.7 million was recorded in other long-term liabilities in the condensed consolidated balance sheets.

The carrying amounts of intangible assets as of April 30, 2018 and January 31, 2018 were as follows:

	As of April 30, 2018							As of January 31, 2018
	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount
	(in thousands)
In-process research and development	$	4,100	$	—		$	4,100	$	4,100	$	—		$	4,100
Internal-use software license		13,406		(4,235	)		9,171		13,404		(3,087	)		10,317
Total acquired intangible assets	$	17,506	$	(4,235	)	$	13,271	$	17,504	$	(3,087	)	$	14,417

The amortization expense related to these software licenses was approximately $1.1 million and $0.3 million for the three months ended April 30, 2018 and 2017, respectively. The estimated future amortization expense related to these software licenses as of April 30, 2018 is as follows:

	As of
	April 30, 2018
Fiscal Year	(in thousands)
2019	$	3,422
2020		4,474
2021		1,275
2022		—
2023		—
Thereafter		—
Total future amortization expenses:	$	9,171

There were no intangible asset impairments for the three months ended April 30, 2018 and 2017, respectively.