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Goodwill and Identified Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2020

Goodwill And Intangible Assets Disclosure [Abstract]

Summary of Changes to Carrying Value of Goodwill

The changes to the carrying value of goodwill from January 1, 2019 through December 31, 2020 are reflected below (in thousands):

December 31, 2018		$	385,784
December 31, 2019		$	385,784
Goodwill acquired through the Mergers (1)			461,129
Purchase price adjustment related to the Mergers (2)			116
December 31, 2020 (3)		$	847,029

(1) In connection with the TiVo Merger, the Company recorded $461.1 million of goodwill, representing the preliminary fair value as of the effective date of the Mergers. See “Note 9 – Business Combination” for additional details.

(2) Representing measurement period adjustments primarily related to current indirect taxes payable, current and non-current income taxes receivable and payable, and deferred taxes as additional information was received and tax returns were finalized. See “Note 9 – Business Combination” for additional details.

(3)

Of this amount, approximately $523.8 million is allocated to the Company’s Product reporting segment and approximately $323.2 million is allocated to its IP Licensing reporting segment.    

Identified Intangible Assets

Identified intangible assets consisted of the following (in thousands):

				December 31, 2020												December 31, 2019
		Average Life (Years)		Gross Assets				Accumulated Amortization				Net				Gross Assets				Accumulated Amortization				Net
Finite-lived intangible assets
Acquired patents / core technology (1)		3-15		$	659,085			$	(167,916	)		$	491,169			$	151,184			$	(135,952	)		$	15,232
Existing technology / content database (2) (3)		5-10			248,110				(169,326	)			78,784				206,878				(130,890	)			75,988
Customer contracts and related relationships (4)		3-9			650,171				(256,199	)			393,972				291,769				(174,741	)			117,028
Trademarks/trade name		4-10			40,083				(21,029	)			19,054				40,083				(16,056	)			24,027
Non-competition agreements		1			2,231				(2,231	)			—				2,231				(2,231	)			—
Total finite-lived intangible assets					1,599,680				(616,701	)			982,979				692,145				(459,870	)			232,275
Indefinite-lived intangible assets
TiVo Tradename/trademarks (5)		N/A			21,400				—				21,400				—				—				—
Total intangible assets				$	1,621,080			$	(616,701	)		$	1,004,379			$	692,145			$	(459,870	)		$	232,275

(1) In June 2020, $457.4 million of patents was acquired through the Mergers. See “Note 9 – Business Combination.”

(2) In June 2020, $34.8 million of existing (developed) technology was acquired through the Mergers. See “Note 9 – Business Combination.”

(3) In June 2020, $6.2 million of content database was acquired through the Mergers. See “Note 9 – Business Combination.”

(4) In June 2020, $358.2 million of customer contracts and related relationships was acquired through the Mergers. See “Note 9 – Business Combination.”

(5) In June 2020, $21.4 million of TiVo tradename/trademarks was acquired through the Mergers. See “Note 9 – Business Combination.”

Estimated Future Amortization Expense

As of December 31, 2020, the estimated future amortization expense of total finite-lived intangible assets was as follows (in thousands):

2021		$	202,453
2022			154,014
2023			143,134
2024			104,330
2025			79,862
Thereafter			299,186
		$	982,979

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