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Intangible Assets | 9 Months Ended
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Sep. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract] |
Intangible Assets | (5) Intangible Assets Intangible Assets with Finite Lives: At September 30, 2024 and December 31, 2023, all of our intangible assets had finite lives, and the carrying values of our intangible assets were as follows:
| September 30, 2024 |  | December 31, 2023
(in thousands) | Gross(1) |  | Accumulated Amortization |  | Net |  | Gross |  | Accumulated Amortization |  | Net
Intangible assets with finite lives: |  |  |  |  |  |  |  |  |  |  |
Customer relationships | $ | 54,329 |  |  | $ | (53,323) |  |  | $ | 1,006 |  |  | $ | 54,565 |  |  | $ | (52,796) |  |  | $ | 1,769 |
Acquired technology | 14,584 |  |  | (6,475) |  |  | 8,109 |  |  | 47,515 |  |  | (13,268) |  |  | 34,247 |
Trade names | 14,886 |  |  | (12,008) |  |  | 2,878 |  |  | 26,938 |  |  | (14,059) |  |  | 12,879 |
Patent costs | 20,868 |  |  | (12,035) |  |  | 8,833 |  |  | 19,579 |  |  | (11,350) |  |  | 8,229 |
Acquired patents | 14,676 |  |  | (14,544) |  |  | 132 |  |  | 16,503 |  |  | (14,822) |  |  | 1,681 |
Other | 4,213 |  |  | (4,210) |  |  | 3 |  |  | 13,711 |  |  | (9,792) |  |  | 3,919 |
Total intangible assets | $ | 123,556 |  |  | $ | (102,595) |  |  | $ | 20,961 |  |  | $ | 178,811 |  |  | $ | (116,087) |  |  | $ | 62,724 |
(1) The impairment charges subsequently discussed resulted in the establishment of a new cost basis for certain intangible assets reflected in the table. Gross asset carrying values and accumulated amortization have been adjusted to reflect the new cost basis of intangible assets for which the carrying value was reduced due to impairment. Impairment of Intangible Assets During the Three and Nine Months Ended September 30, 2024 As previously discussed in Note 1, during the three months ended September 30, 2024, the Company concluded that the carrying value of the primary asset group underlying the Company's core operations was impaired, resulting in the allocation of $31,198 of the $42,288 impairment charge to intangible assets. The impairment charge allocated to intangible assets reduced the carrying values of customer relationships, acquired technology, and trade names by $328, $23,205, and $7,665, respectively. All intangible asset impairment charges have been recorded within "Asset impairment charges" on our condensed consolidated statements of operations. Impairment of Intangible Assets During the Three and Nine Months Ended September 30, 2023 During the three months ended September 30, 2023, the Company concluded that it was more likely than not that it would sell or otherwise dispose of a portion of its software business unit, Oqton MOS, that it had previously acquired. This software business unit represented a discrete asset group for accounting purposes, as its identifiable cash flows were deemed to be largely independent of the cash flows of other groups of assets and liabilities within the Company and its software business unit. Based upon the expectation to either sell or otherwise dispose of this asset group, the Company revised the related long-term cash flow forecast. The revised long-term cash flow forecast indicated that the carrying amounts of this asset group's long-lived assets, consisting primarily of product technology and trade name intangible assets recorded when the asset group was initially acquired, may not be recoverable. Accordingly, the carrying value of this asset group's long-lived assets was tested for impairment based upon an estimate of the associated discounted future cash flows. This fair value measurement approach required the use of Level 3 fair value measurement inputs, as defined in Note 18. As the present value of the estimated future cash flows expected to result from the use and eventual disposition of the asset group was less than its carrying value, the Company recognized a $13,597 impairment charge during the three and nine months ended September 30, 2023, which reduced the carrying values of the asset group's acquired technology and trade name intangible assets to $0. Amortization of Intangible Assets Amortization expense related to intangible assets was $7,929 and $12,068 for the three and nine months ended September 30, 2024, respectively, compared to $3,179 and $9,676 for the three and nine months ended September 30, 2023, respectively. Amortization expense for intangible assets is estimated to be $776 for the remainder of 2024, $3,097 in 2025, $2,493 in 2026, $1,973 in 2027 and $1,643 in 2028.

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