Intangible Assets

12 Months Ended

Dec. 31, 2022

Intangible Assets, Net (Excluding Goodwill) [Abstract]

Note 11 – Intangible Assets

Intangible assets as of December 31, 2022 and 2021, consisted of the following:


			2022							2021
(In thousands)	Weighted Average Useful Life (in years)		Gross Value		Accumulated Amortization			Net Value		Gross Value		Accumulated Amortization			Net Value
Customer relationships		10.9	$	55,517	$	(12,772	)	$	42,745	$	20,796	$	(9,906	)	$	10,890
Backlog		1.6		55,782		(22,725	)		33,057		—		—			—
Developed technology		8.5		320,364		(21,856	)		298,508		8,200		(3,683	)		4,517
Licensed technology		9.0		5,900		(3,141	)		2,759		5,900		(2,486	)		3,414
Licensing agreements		8.5		560		(298	)		262		560		(225	)		335
Patents		7.3		500		(431	)		69		500		(363	)		137
Trade names		3.0		29,066		(5,255	)		23,811		210		(210	)		—
Total			$	467,689	$	(66,478	)	$	401,211	$	36,166	$	(16,873	)	$	19,293

As part of the purchase price allocation related to the Business Combination with ADVA, the Company recognized $403.8 million of intangible assets on July 15, 2022. Intangible assets are reviewed for impairment whenever events and circumstances indicate impairment may have occurred. The Company assessed impairment triggers related to intangible assets during each financial period in 2022, 2021 and 2020. As a result, no quantitative impairment test of long-lived assets was performed as of December 31, 2022, 2021 and 2020, and no impairment losses of intangible assets were recorded during the years ended December 31, 2022, 2021 and 2020.

Amortization expense was $47.3 million, $4.1 million and $4.4 million for the years ended December 31, 2022, 2021 and 2020, respectively, and was included in cost of revenue, selling, general and administrative expenses and research and development expenses in the Consolidated Statements of (Loss) Income.

As of December 31, 2022, estimated future amortization expense of intangible assets was as follows:


(In thousands)	Amount
2023	$	82,080
2024		57,545
2025		46,095
2026		42,851
2027		41,491
Thereafter		131,149
Total	$	401,211