Goodwill and Identified Intangible Assets

6 Months Ended

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