XML 30 R14.htm IDEA: XBRL DOCUMENT v3.23.1
Intangible Assets, Net
 12 Months Ended
Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]  
Intangible Assets, Net Intangible Assets, Net
Intangible assets, net consist of the following:
December 31, 2022December 31, 2021
Weighted
average
remaining
useful life		Gross
Carrying
Amount		Accumulated
Amortization		Net
Carrying
Amount		Weighted
average
remaining
useful life		Gross
Carrying
Amount		Accumulated
Amortization		Net
Carrying
Amount
Developed technology4.0$22,734 $(4,993)$17,741 6.7$49,040 $(1,374)$47,666 
Software licenses1.523,305 (11,514)11,791 2.523,297 (6,286)17,011 
Customer relationships8.217,569 (1,895)15,674 6.712,682 (365)12,317 
Intellectual property licenses1.01,777 (1,716)61 1.51,736 (1,687)49 
Trade names5.59,536 (1,466)8,070 6.76,125 (182)5,943 
Backlog1.0366 (175)191 1.82,378 (239)2,139 
Effect of exchange rate on gross carrying amount(3,614)— (3,614)(631)— (631)
Intangible assets with finite lives71,673 (21,759)49,914 94,627 (10,133)84,494 
IPR&D14,160 — 14,160 11,866 — 11,866 
Effect of exchange rate on gross carrying amount(957)— (957)(75)— (75)
Total intangible assets with indefinite lives13,203 — 13,203 11,791 — 11,791 
Total intangible assets$84,876 $(21,759)$63,117 $106,418 $(10,133)$96,285 
The Company obtained software licenses, which it uses for its research and development efforts related to its products. In fiscal 2022 and 2021, the Company obtained additional software licenses. Further, the Company has acquired developed technology, customer relationships, trade names, backlog and IPR&D as a result of the business combinations. The change in gross amount of intangible assets is related to the business combination valuation for TeraXion, ON Design and Symeo that was finalized during the twelve months ended December 31, 2022. See Note 3 — Business Combinations for additional information.
Intangible assets with finite lives are amortized on a straight-line basis over the expected period to be benefited by future cash flows. The Company monitors and assesses these assets for impairment on a periodic basis. As of December 31, 2022, the Company determined that there was no impairment of intangible assets.
Amortization of intangible assets for the years ended December 31, 2022 and 2021 was $11,644 and $4,769, respectively, and is included within Cost of goods sold, Research and development expenses, and Selling, general and administrative expenses based their respective nature, in the consolidated statements of operations.
Based on the amount of definite-lived intangible assets subject to amortization as of December 31, 2022, amortization expense for each of the next five fiscal years is expected to be as follows:
2023$14,553 
202411,480 
20256,676 
20265,880 
20274,003 
Thereafter7,322 
Total$49,914