Goodwill and Identified Intangible Assets

12 Months Ended

Dec. 31, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Identified Intangible Assets

NOTE 11 – GOODWILL AND IDENTIFIED INTANGIBLE ASSETS

Goodwill

The changes to the carrying value of goodwill from January 1, 2021 through December 31, 2022 are reflected below (in thousands):

	Amounts
Balance at December 31, 2020 and 2021	$	314,576
Goodwill adjustment related to Mergers in prior periods		(916	)
Balance at December 31, 2022	$	313,660

Goodwill at each reporting unit is evaluated for potential impairment annually, as of the beginning of the fourth quarter, and whenever events or changes in circumstances indicate the carrying amount of goodwill may not be recoverable. The process of evaluating goodwill for potential impairment is subjective and requires significant estimates, assumptions and judgments particularly related to the identification of reporting units, the assignment of assets and liabilities to reporting units and estimating the fair value of each reporting unit.

As part of its annual goodwill impairment test, the Company elected to proceed with a qualitative goodwill impairment test and no indicators of potential impairment were identified. Additionally, based on the qualitative evaluation, which included consideration of the carrying value of the IP Licensing reporting unit and market capitalization of the Company, no goodwill impairment triggers were identified as of December 31, 2022. No impairment charges were recognized for the years ended December 31, 2021 and 2020.

Identified Intangible Assets

Identified intangible assets consisted of the following (in thousands):

		December 31, 2022							December 31, 2021
	Average Life (Years)	Gross Assets		Accumulated Amortization			Net		Gross Assets		Accumulated Amortization			Net
Finite-lived intangible assets
Acquired patents / core technology	3-10	$	645,928	$	(270,275	)	$	375,653	$	667,613	$	(219,292	)	$	448,321
Existing technology / content database	5-10		38,681		(36,614	)		2,067		38,681		(33,514	)		5,167
Customer contracts and related relationships	3-9		155,900		(101,252	)		54,648		155,900		(62,677	)		93,223
Trademarks/trade name	4-10		1,300		(1,192	)		108		1,300		(1,029	)		271
Total intangible assets		$	841,809	$	(409,333	)	$	432,476	$	863,494	$	(316,512	)	$	546,982

As of December 31, 2022, the estimated future amortization expense of total finite-lived intangible assets was as follows (in thousands):

	Amounts
2023	$	93,540
2024		68,809
2025		52,731
2026		52,597
2027		52,246
Thereafter		112,553
	$	432,476