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Intangible Assets, Net (Tables)
12 Months Ended
Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Intangible Assets, Net

The following tables present details of our intangible assets, net:

 

 

 

 

 

December 31, 2022

 

(dollars in thousands)

 

Useful Life
(in years)

 

Gross
Carrying
Amount

 

 

Accumulated
Amortization

 

 

Net
Carrying
Amount

 

 

Weighted Average Remaining Useful Life
(in years)

 

Customer relationships

 

9-13

 

$

96,600

 

 

$

(14,151

)

 

$

82,449

 

 

 

9.8

 

Developed technology

 

1-5

 

 

86,298

 

 

 

(54,483

)

 

 

31,815

 

 

 

4.0

 

Trademarks

 

1-9

 

 

14,352

 

 

 

(12,841

)

 

 

1,511

 

 

 

3.9

 

Content library

 

3

 

 

9,500

 

 

 

(5,410

)

 

 

4,090

 

 

 

1.3

 

Backlog

 

1

 

 

1,900

 

 

 

(1,900

)

 

 

 

 

 

 

 

 

 

 

$

208,650

 

 

$

(88,785

)

 

$

119,865

 

 

 

7.9

 

 

 

 

 

 

 

December 31, 2021

 

(dollars in thousands)

 

Useful Life
(in years)

 

Gross
Carrying
Amount

 

 

Accumulated
Amortization

 

 

Net
Carrying
Amount

 

 

Weighted Average Remaining Useful Life
(in years)

 

Customer relationships

 

9-13

 

$

75,500

 

 

$

(6,015

)

 

$

69,485

 

 

 

10.6

 

Developed technology

 

1-5

 

 

56,898

 

 

 

(46,411

)

 

 

10,487

 

 

 

2.2

 

Trademarks

 

1-9

 

 

13,316

 

 

 

(12,309

)

 

 

1,007

 

 

 

5.9

 

Content library

 

3

 

 

9,500

 

 

 

(2,243

)

 

 

7,257

 

 

 

2.3

 

Backlog

 

1

 

 

1,900

 

 

 

(1,345

)

 

 

555

 

 

 

0.3

 

 

 

 

 

$

157,114

 

 

$

(68,323

)

 

$

88,791

 

 

 

8.9

 

Schedule of Expected Amortization of Intangible Assets, Net for Future Periods

At December 31, 2022, the expected amortization of intangible assets, net for future periods was as follows:

 

(in thousands)

 

 

 

Year Ending December 31,

 

 

 

2023

 

$

21,391

 

2024

 

 

17,039

 

2025

 

 

15,830

 

2026

 

 

15,427

 

2027

 

 

10,148

 

Thereafter

 

 

40,030

 

 

 

$

119,865