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Note 14 - Intangible Assets, Net | 9 Months Ended
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Sep. 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 September 30, 2024 and December 31, 2023 (in thousands):
|  | September 30, 2024 |  |  | December 31, 2023 |  |  | September 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 |  | $ | 302,605 |  |  | $ | (158,111 | ) |  | $ | 144,494 |  |  | $ | 256,835 |  |  | $ | (139,302 | ) |  | $ | 117,533 |  |  |  | 7.5 |
Trademarks |  |  | 64,244 |  |  |  | (39,903 | ) |  |  | 24,341 |  |  |  | 58,977 |  |  |  | (36,578 | ) |  |  | 22,399 |  |  |  | 5.4 |
Technology |  |  | 229,022 |  |  |  | (92,010 | ) |  |  | 137,012 |  |  |  | 179,154 |  |  |  | (82,266 | ) |  |  | 96,888 |  |  |  | 11.5 |
Software |  |  | 18,257 |  |  |  | (15,651 | ) |  |  | 2,606 |  |  |  | 15,248 |  |  |  | (12,352 | ) |  |  | 2,896 |  |  |  | 0.3 |
Total |  | $ | 614,128 |  |  | $ | (305,675 | ) |  | $ | 308,453 |  |  | $ | 510,214 |  |  | $ | (270,498 | ) |  | $ | 239,716 |  |  |  | 9.0 |
Amortization expense for intangible assets was $13.0 million and $35.2 million for the three and nine months ended September 30, 2024, and $9.6 million and $28.2 million for the three and nine months ended September 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 |  | $ | 31,946 |  |  |  | 10.0 |
Trademarks |  |  | 1,643 |  |  |  | 4.0 |
Technology |  |  | 265 |  |  |  | 15.0 |
Total |  | $ | 33,854 |  |  |  | 9.8 |

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