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Intangible Assets | 9 Months Ended
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Sep. 30, 2022
Intangible Assets, Net (Excluding Goodwill) [Abstract] |
Intangible Assets | 11. INTANGIBLE ASSETS Intangible assets consisted of the following:
|  |  |  | As of September 30, 2022 |  |  | As of December 31, 2021 |
(In thousands) | Weighted Average Useful Life (in years) |  |  | Gross Carrying Amount |  |  | Accumulated Amortization |  |  | Net Book Value |  |  | Gross Carrying Amount |  |  | Accumulated Amortization |  |  | Net Book Value |
Customer relationships |  | 10.9 |  |  | $ | 52,139 |  |  | $ | (11,207 | ) |  | $ | 40,932 |  |  | $ | 20,796 |  |  | $ | (9,906 | ) |  | $ | 10,890 |
Backlog |  | 1.4 |  |  |  | 50,966 |  |  |  | (9,325 | ) |  |  | 41,641 |  |  |  | — |  |  |  | — |  |  |  | — |
Developed technology |  | 8.5 |  |  |  | 294,983 |  |  |  | (11,565 | ) |  |  | 283,418 |  |  |  | 8,200 |  |  |  | (3,683 | ) |  |  | 4,517 |
Licensed technology |  | 9.0 |  |  |  | 5,900 |  |  |  | (2,977 | ) |  |  | 2,923 |  |  |  | 5,900 |  |  |  | (2,486 | ) |  |  | 3,414 |
Licensing agreements |  | 8.5 |  |  |  | 560 |  |  |  | (280 | ) |  |  | 280 |  |  |  | 560 |  |  |  | (225 | ) |  |  | 335 |
Patents |  | 7.3 |  |  |  | 500 |  |  |  | (414 | ) |  |  | 86 |  |  |  | 500 |  |  |  | (363 | ) |  |  | 137 |
Trade names |  | 2.8 |  |  |  | 26,575 |  |  |  | (2,280 | ) |  |  | 24,295 |  |  |  | 210 |  |  |  | (210 | ) |  |  | — |
Total |  |  |  | $ | 431,623 |  |  | $ | (38,048 | ) |  | $ | 393,575 |  |  | $ | 36,166 |  |  | $ | (16,873 | ) |  | $ | 19,293 |
The Company evaluates the carrying value of intangible assets whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable and the undiscounted cash flows estimated to be generated by the asset are less than the asset’s carrying value. Due to the current economic environment, particularly related to COVID-19, the Company assessed impairment triggers related to intangible assets during each financial period in 2022 and 2021. As a result, no quantitative impairment test of long-lived assets was performed as of September 30, 2022 and 2021, and no impairment losses of intangible assets were recorded during the three and nine months ended September 30, 2022 and 2021. Amortization expense was $20.4 million and $1.0 million in the three months ended September 30, 2022 and 2021, respectively, and $22.2 million and $3.1 million in the nine months ended September 30, 2022 and 2021, respectively, and was included in cost of revenue, selling, general and administrative expenses and research and development expenses in the Condensed Consolidated Statements of Loss. Estimated future amortization expense of intangible assets was as follows:
|  | As of |
(In thousands) |  | September 30, 2022 |
2022 |  | $ | 23,691 |
2023 |  |  | 75,677 |
2024 |  |  | 53,021 |
2025 |  |  | 42,623 |
2026 |  |  | 39,505 |
Thereafter |  |  | 159,058 |
Total |  | $ | 393,575 |

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- Definition The entire disclosure for all or part of the information related to intangible assets. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -URI https://asc.fasb.org/subtopic&trid=2144471 + Details
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- References No definition available. + Details
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