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Goodwill and Identified Intangible Assets | 6 Months Ended
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Jun. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Identified Intangible Assets | NOTE 7 – GOODWILL AND IDENTIFIED INTANGIBLE ASSETS Goodwill The carrying value of goodwill at June 30, 2024 and December 31, 2023 was $313.7 million. There were no changes to the carrying value of goodwill from January 1, through June 30, 2024. Goodwill at each reporting unit is evaluated for potential impairment annually, as of the beginning of the fourth quarter, and whenever events or changes in circumstances indicate the carrying amount of goodwill may not be recoverable. The process of evaluating goodwill for potential impairment is subjective and requires significant estimates, assumptions and judgments particularly related to the identification of reporting units, the assignment of assets and liabilities to reporting units and estimating the fair value of each reporting unit. No impairment charges were recognized for the three months and six months ended June 30, 2024 and 2023. Identified Intangible Assets Identified intangible assets consisted of the following (in thousands):
|  | Average |  | June 30, 2024 |  |  | December 31, 2023 |
|  | Life (Years) |  | Gross Assets |  |  | Accumulated Amortization |  |  | Net |  |  | Gross Assets |  |  | Accumulated Amortization |  |  | Net |
Finite-lived intangible assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Acquired patents / core technology |  | 3-10 |  | $ | 661,336 |  |  | $ | (350,375 | ) |  | $ | 310,961 |  |  | $ | 654,360 |  |  | $ | (323,261 | ) |  | $ | 331,099 |
Customer contracts and related relationships |  | 3-9 |  |  | 155,900 |  |  |  | (155,900 | ) |  |  | — |  |  |  | 155,900 |  |  |  | (139,827 | ) |  |  | 16,073 |
Existing technology / content database |  | 5-10 |  |  | 38,681 |  |  |  | (38,681 | ) |  |  | — |  |  |  | 38,681 |  |  |  | (38,681 | ) |  |  | — |
Trademarks/trade name |  | 4-10 |  |  | 1,300 |  |  |  | (1,300 | ) |  |  | — |  |  |  | 1,300 |  |  |  | (1,300 | ) |  |  | — |
Total intangible assets |  |  |  | $ | 857,217 |  |  | $ | (546,256 | ) |  | $ | 310,961 |  |  | $ | 850,241 |  |  | $ | (503,069 | ) |  | $ | 347,172 |
As of June 30, 2024, the estimated future amortization expense of total finite-lived intangible assets was as follows (in thousands):
|  | Amounts |
2024 (remaining 6 months) |  | $ | 27,201 |
2025 |  |  | 54,397 |
2026 |  |  | 54,263 |
2027 |  |  | 53,911 |
2028 |  |  | 48,868 |
Thereafter |  |  | 72,321 |
Total |  | $ | 310,961 |

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-30/tableOfContent Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-20/tableOfContent + Details
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