Intangible Assets

12 Months Ended

Dec. 31, 2023

Intangible Assets, Net (Excluding Goodwill) [Abstract]

Note 10 – Intangible Assets

Intangible assets as of December 31, 2023 and 2022, consisted of the following:


			2023							2022
(In thousands)	Weighted Average Useful Life (in years)		Gross Value		Accumulated Amortization			Net Value		Gross Value		Accumulated Amortization			Net Value
Customer relationships		10.9	$	54,856	$	(15,943	)	$	38,913	$	53,847	$	(11,102	)	$	42,745
Backlog		1.6		57,391		(52,022	)		5,369		55,782		(22,725	)		33,057
Developed technology		8.5		329,369		(61,271	)		268,098		320,364		(21,856	)		298,508
Licensed technology		9.0		5,900		(3,797	)		2,103		5,900		(3,141	)		2,759
Licensing agreements		8.5		560		(368	)		192		560		(298	)		262
Patents		7.3		500		(500	)		—		500		(431	)		69
Trade names		3.0		29,689		(16,379	)		13,310		28,856		(5,045	)		23,811
Total			$	478,265	$	(150,280	)	$	327,985	$	465,809	$	(64,598	)	$	401,211

The Company evaluates impairment at the reporting unit level, whenever events or changes in circumstances indicate that the carrying amount of assets within a reporting unit may not be recoverable and the undiscounted cash flows estimated to be generated by the assets are less than the reporting units carrying value. The Company assessed impairment triggers related to our reporting units during each financial period in 2023, 2022 and 2021 and no impairment losses of intangible assets were recorded during the years ended December 31, 2023, 2022 and 2021. See Note 1 for additional information regarding our assessment of impairment for our reporting units.

Amortization expense was $82.8 million, $47.3 million and $4.1 million for the years ended December 31, 2023, 2022 and 2021, respectively, and was included in cost of revenue, selling, general and administrative expenses and research and development expenses in the Consolidated Statements of Loss.

As of December 31, 2023, estimated future amortization expense of intangible assets was as follows:


	As of
(In thousands)	December 31, 2023
2024	$	59,112
2025		47,337
2026		44,040
2027		42,647
2028		42,504
Thereafter		92,345
Total	$	327,985