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Note 14 - Intangible Assets, Net

12 Months Ended

Dec. 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  December 31, 2024 and 2023 (in thousands):

		December 31, 2024												December 31, 2023												December 31, 2024
						Accumulated												Accumulated								Weighted
		Gross				impairment								Gross				impairment								average
		carrying				and				Net book				carrying				and				Net book				remaining
		amount				amortization				value				amount				amortization				value				life (years)
CR&C		$	302,605			$	(164,817	)		$	137,788			$	256,835			$	(139,302	)		$	117,533				7.2
Trademarks			64,244				(41,141	)			23,103				58,977				(36,578	)			22,399				5.2
Technology			229,022				(95,713	)			133,309				179,154				(82,266	)			96,888				11.3
Software			21,494				(16,838	)			4,656				15,248				(12,352	)			2,896				1.0
Total		$	617,365			$	(318,509	)		$	298,856			$	510,214			$	(270,498	)		$	239,716				8.8

Amortization expense for intangible assets was $48.0 million, $38.5 million and $37.4 million for the years ended December 31, 2024, 2023 and 2022, 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				13.0

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
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

No impairment expense associated with our intangible assets was recognized during the years ended December 31, 2024, 2023 and 2022.

Expected future intangible asset amortization as of December 31, 2024 is as follows (in thousands):

Years ending December 31,
2025		$	51,564
2026			46,593
2027			46,593
2028			43,100
2029			16,671
Thereafter			94,335
Total		$	298,856

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