Intangible assets primarily consist of software licenses as well as developed technology, customer relationships and trade name that were acquired from business combinations. In fiscal year 2022, the Company determined that the underlying project incorporating IPR&D from the prior acquisition of VisLab S.r.l., or VisLab, was completed. As a result, the $4.1 million of IPR&D was reclassified as definite-lived developed technology and started amortization over its estimated economic life of 7 years.

The Company enters into certain software license agreements with third parties from time-to-time. The software licenses consist of noncancelable on-premise internal-use software and software with alternative use that is to be sold, leased or otherwise marketed as part of a product. The licenses have been capitalized as intangible assets and the corresponding future payments have been recorded as liabilities at net present value. As of January 31, 2024, $8.2 million was recorded in accrued and other current liabilities and $8.3 million was recorded in other long-term liabilities in the consolidated balance sheets.

The components of intangible assets as of January 31, 2024 and 2023 were as follows:


	As of January 31, 2024							As of January 31, 2023
	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount
	(in thousands)
Software licenses	$	41,329	$	(12,029	)	$	29,300	$	34,128	$	(6,319	)	$	27,809
Developed technology		21,200		(6,961	)		14,239		21,200		(3,932	)		17,268
Customer relationships		13,200		(3,300	)		9,900		13,200		(1,833	)		11,367
Trade name		2,500		(803	)		1,697		2,500		(447	)		2,053
Total intangible assets, net	$	78,229	$	(23,093	)	$	55,136	$	71,028	$	(12,531	)	$	58,497

During the twelve months ended January 31, 2024, there were approximately $13.0 million of software licenses purchased and approximately $5.8 million of software licenses retired. The amortization expense associated with software licenses was approximately $11.5 million, $7.5 million and $6.4 million for the fiscal years ended January 31, 2024, 2023 and 2022, respectively. The amortization expense associated with acquisition-related intangible assets, including developed technology, customer relationship and trade name, was approximately $4.9 million, $4.9 million and $1.4 million for the fiscal years ended January 31, 2024, 2023 and 2022, respectively. As of January 31, 2024, the Company has not commenced amortization with respect to approximately $9.4 million of software licenses with alternative uses that are to be sold, leased or otherwise marketed as part of products. Once the associated products are available for general release to customers, the Company will commence amortization on a product-by-product basis over the remaining estimated economic life of the products. The expected future amortization expense related to these intangible assets as of January 31, 2024 is as follows:


	As of
	January 31, 2024
Fiscal Year	(in thousands)
2025	$	14,878
2026		12,548
2027		7,669
2028		6,127
2029		5,834
Thereafter		8,080
Total future amortization expenses:	$	55,136

Intangible assets are tested for impairment at least annually, in the fourth fiscal quarter, or more frequently if events or changes in circumstances indicate that the assets may be impaired. The Company is also required to test the impairment prior to changing the IPR&D from an indefinite-lived asset to a finite-lived asset. There were no intangible asset impairments for the fiscal years ended January 31, 2024, 2023 and 2022, respectively.