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Note 14 - Intangible Assets, Net

6 Months Ended

Jun. 30, 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 June 30, 2024 and December 31, 2023 (in thousands):

		June 30, 2024												December 31, 2023												June 30, 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		$	302,707			$	(151,405	)		$	151,302			$	256,835			$	(139,302	)		$	117,533				7.7
Trademarks			64,228				(38,664	)			25,564				58,977				(36,578	)			22,399				5.7
Technology			229,022				(88,307	)			140,715				179,154				(82,266	)			96,888				11.8
Software			17,853				(14,290	)			3,563				15,248				(12,352	)			2,896				0.4
Total		$	613,810			$	(292,666	)		$	321,144			$	510,214			$	(270,498	)		$	239,716				9.3

Amortization expense for intangible assets was $11.7 million and $22.2 million for the three and six months ended June 30, 2024, and $9.4 million and $18.6 million for the three and six months ended June 30, 2023, respectively.

The following table summarizes the intangible assets which were acquired pursuant to the Coretrax Acquisition in 2024 (in thousands):

		Acquired Fair Value				Weighted average life (years)
Coretrax:
CR&C		$	45,883				13.0
Trademarks			5,251				5.0
Software			648				1.0
Technology			49,868				10-15
Total		$	101,650				9.8

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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The entire disclosure for all or part of the information related to intangible assets.

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-URI https://asc.fasb.org/985-20/tableOfContent

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