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Intangible Assets (Tables)
12 Months Ended
Dec. 31, 2023
Intangible Assets, Net (Excluding Goodwill) [Abstract]  
Summary of 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

 

Estimated Future Amortization Expense Related to Intangible Assets

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