PURCHASED INTANGIBLE ASSETS

12 Months Ended

Dec. 31, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

PURCHASED INTANGIBLE ASSETS

PURCHASED INTANGIBLE ASSETS

Our purchased intangible assets include finite-lived core technology, customer backlog, customer relationships, and trademarks/trade names. Finite-lived intangible assets are amortized over the estimated useful life of the related assets. Customer relationships are amortized using an accelerated amortization method. The remaining weighted average amortization period of all purchased intangible assets is approximately 14 years in total. The remaining weighted average amortization periods of the purchased intangible assets by asset category are as follows:

 

Core technology	2 years
Customer relationships	14 years
Trademarks / Trade names	14 years

Our purchased intangible assets consisted of the following as of December 31, 2022:

 

	Gross		Accumulated Amortization		Net
Core technology	$	14,063	$	(14,031)	$	32
Customer backlog	22,000		(22,000)		—
Customer relationships	244,650		(47,254)		197,396
Trademarks / Trade names	23,914		(3,417)		20,497
Total intangible assets	$	304,627	$	(86,702)	$	217,925

Our purchased intangible assets consisted of the following as of December 31, 2021:

 

	Gross		Accumulated Amortization		Net
Core technology	$	15,647	$	(14,209)	$	1,438
Customer backlog	21,500		—		21,500
Customer relationships	246,718		$	(36,047)	210,671
Trademarks / Trade names	24,037		$	(2,070)	21,967
Total intangible assets	$	307,902	$	(52,326)	$	255,576

The change in the gross value of our purchased intangible assets at December 31, 2022 from December 31, 2021 was primarily due to foreign currency translation. Additionally, there was an adjustment due to recognition of tax benefit from tax amortization previously applied to certain goodwill related to the DynaEnergetics and NobelClad reporting units. After the goodwill associated with each reporting unit was impaired at December 31, 2015 and September 30, 2017, respectively, the tax amortization reduces other intangible assets' net value related to the historical acquisition.

Expected future amortization of purchased intangible assets is as follows:

 

For the years ended December 31:
2023	$	22,666
2024	21,155
2025	19,053
2026	17,426
2027	15,806
Thereafter	121,819
	$	217,925