Quarterly report pursuant to Section 13 or 15(d)

GOODWILL & INTANGIBLE ASSETS (Tables)

v3.23.1
GOODWILL & INTANGIBLE ASSETS (Tables)
3 Months Ended
Mar. 31, 2023
GOODWILL & INTANGIBLE ASSETS  
Schedule of goodwill activity The goodwill activity is as follows (in thousands):

March 31, 

December 31, 

2023

2022

Balance, beginning of year

$

112,955

$

639,301

Foreign currency translation adjustment

616

(26,940)

Measurement period adjustments

(606)

Goodwill impairment

(498,800)

Balance, end of period

$

113,571

$

112,955

Schedule of intangible assets

Intangible assets consisted of the following (in thousands):

March 31, 2023

 

December 31, 2022

Weighted Average

Gross

Net

    

Gross

Net

Remaining Useful

Carrying

Accumulated

Carrying

Carrying

Accumulated

Carrying

Lives (in years)

Amount

Amortization

Amount

 

Amount

Amortization

Amount

Acquired technology

8.3

$

196,996

$

44,502

$

152,494

 

$

196,367

$

36,919

$

159,448

Trade name

10.1

12,464

2,789

9,675

12,459

2,374

10,085

Customer relationships

9.6

68,199

20,270

47,929

67,915

17,663

50,252

Capitalized software

0.2

518

500

18

518

473

45

Total intangible assets

$

278,177

$

68,060

$

210,117

$

277,259

$

57,429

$

219,830

Schedule of amortization expenses

During the three months ended March 31, 2023 and 2022, the Company recognized the following amortization expense (in thousands):

Statement of

Three Months Ended March 31, 

Category

Operations Line Item

2023

2022

Acquired technology

Cost of Sales

$

6,927

$

5,990

Acquired technology

Research and Development

553

443

Trade name

General and Administrative

415

422

Customer relationships

Sales and Marketing

2,520

2,902

Capitalized software

Research and Development

27

27

$

10,442

$

9,784

Schedule of future amortization expense

The Company expects to recognize the following amortization expense (in thousands):

Amortization Expense

2023

$

31,339

2024

41,873

2025

39,370

2026

29,324

2027

21,083

2028 and after

47,128

Total intangible amortization

$

210,117