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Note 14 - Intangible Assets, Net

3 Months Ended

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