GOODWILL & INTANGIBLE ASSETS (Tables)

12 Months Ended

Dec. 31, 2022

GOODWILL & INTANGIBLE ASSETS

Schedule of goodwill activity

	2022		2021
Balance, beginning of year	$	639,301	$	2,252
Goodwill impairment		(498,800)		—
Foreign currency translation adjustment		(26,940)		(4,568)
Measurement period adjustments(1)		(606)		—
Additions(2)		—		641,617
Balance, end of year	$	112,955	$	639,301

⁽¹⁾Represents final measurement period adjustments related to the May Dental and ExOne acquisitions. Refer to Note 4. Acquisitions for further information.

⁽²⁾The additions to goodwill during fiscal year 2021 are related to the acquisitions of EnvisionTEC, Adaptive3D, Aerosint, Dental Arts Labs, A.I.D.R.O., Brewer Dental, May Dental, and ExOne. Refer to Note 4. Acquisitions for further information.

Schedule of intangible assets

The following table sets forth the major categories of intangible assets and the weighted-average remaining useful lives for those assets that are not already fully amortized (in thousands):

		December 31, 2022						December 31, 2021
	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	8.4	$	196,367	$	36,919	$	159,448	$	198,631	$	11,421	$	187,210
Trade name	10.3		12,459		2,374		10,085		12,475		684		11,791
Customer relationships	9.8		67,915		17,663		50,252		69,127		6,296		62,831
Capitalized software	0.5		518		473		45		518		366		152
Total intangible assets		$	277,259	$	57,429	$	219,830	$	280,751	$	18,767	$	261,984

Schedule of amortization expenses

The Company recognized amortization expense for years ended December 31, 2022, 2021 and 2020, respectively, as follows (in thousands):

	Statement of	Year Ended December 31,
Category	Operations Line Item	2022		2021		2020
Acquired technology	Cost of Sales	$	23,707	$	8,569	$	114
Acquired technology	Research and Development		1,748		1,761		646
Trade name	General and Administrative		1,688		685		—
Customer relationships	Sales and Marketing		11,412		6,339		—
Capitalized software	Research and Development		107		161		128
		$	38,662	$	17,515	$	888

Schedule of future amortization expense

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

	Amortization Expense
2023	$	41,659
2024		41,722
2025		39,229
2026		29,215
2027		21,005
2028 and after		47,000
Total intangible amortization	$	219,830