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Note 14 - Intangible Assets, Net | 3 Months Ended
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Mar. 31, 2024
Notes to Financial Statements |
Intangible Assets Disclosure [Text Block] |
14. | Intangible assets, net
The following table summarizes our intangible assets comprising of Customer Relationships & Contracts (“CR&C”), Trademarks, Technology and Software as of March 31, 2024 and December 31, 2023 (in thousands):
|  | March 31, 2024 |  |  | December 31, 2023 |  |  | March 31, 2024 |
|  | Gross carrying amount |  |  | Accumulated impairment and amortization |  |  | Net book value |  |  | Gross carrying amount |  |  | Accumulated impairment and amortization |  |  | Net book value |  |  | Weighted average remaining life (years) |
CR&C |  | $ | 256,835 |  |  | $ | (145,125 | ) |  | $ | 111,710 |  |  | $ | 256,835 |  |  | $ | (139,302 | ) |  | $ | 117,533 |  |  |  | 5.8 |
Trademarks |  |  | 58,977 |  |  |  | (38,457 | ) |  |  | 20,520 |  |  |  | 58,977 |  |  |  | (36,578 | ) |  |  | 22,399 |  |  |  | 6.2 |
Technology |  |  | 179,154 |  |  |  | (84,151 | ) |  |  | 95,003 |  |  |  | 179,154 |  |  |  | (82,266 | ) |  |  | 96,888 |  |  |  | 10.9 |
Software |  |  | 15,634 |  |  |  | (13,293 | ) |  |  | 2,341 |  |  |  | 15,248 |  |  |  | (12,352 | ) |  |  | 2,896 |  |  |  | 0.6 |
Total |  | $ | 510,600 |  |  | $ | (281,026 | ) |  | $ | 229,574 |  |  | $ | 510,214 |  |  | $ | (270,498 | ) |  | $ | 239,716 |  |  |  | 7.9 |
Amortization expense for intangible assets was $10.5 million and $9.2 million for the three months ended March 31, 2024 and 2023, respectively. The following table summarizes the intangible assets which were acquired pursuant to the DeltaTek Acquisition and the PRT Acquisition during 2023 (in thousands):
|  | Acquired Fair Value |  |  | Weighted average life (years) |
DeltaTek: |  |  |  |  |  |  |  |
CR&C |  | $ | 2,571 |  |  |  | 6.0 |
Trademarks |  |  | 257 |  |  |  | 5.0 |
Technology |  |  | 8,237 |  |  |  | 15.0 |
Total |  | $ | 11,065 |  |  |  | 12.7 |
PRT: |  |  |  |  |  |  |  |
CR&C |  | $ | 32,048 |  |  |  | 10.0 |
Trademarks |  |  | 1,627 |  |  |  | 4.0 |
Technology |  |  | 265 |  |  |  | 15.0 |
Total |  | $ | 33,940 |  |  |  | 9.8 |

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