GOODWILL AND OTHER INTANGIBLE ASSETS, NET

3 Months Ended

Mar. 31, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

GOODWILL AND OTHER INTANGIBLE ASSETS

GOODWILL AND OTHER INTANGIBLE ASSETS, NET

Changes in the carrying amount of goodwill consisted of the following:

	Three Months Ended March 31,
	2022
	(In thousands)
Beginning balance	$	7,470
Acquisition of business	—
Impairment losses	—
Ending balance	$	7,470

The ending balance of goodwill includes no accumulated impairment losses to date. Refer to Note 1 for additional information related to the Printronix acquisition.

Other intangible assets, net consisted of the following:

	March 31, 2022
	Weighted Average Amortization Period	Gross Carrying Amount		Accumulated Amortization		Net Book Value
		(In thousands)
Patents:
Intellectual property operations	6 years	$	331,403	$	(296,942)	$	34,461
Industrial operations	7 years	3,400		(233)		3,167
Total patents		334,803		(297,175)		37,628
Customer relationships - industrial operations	7 years	5,300		(364)		4,936
Trade name and trademarks - industrial operations	7 years	3,430		(235)		3,195
Total		$	343,533	$	(297,774)	$	45,759

	December 31, 2021
	Weighted Average Amortization Period	Gross Carrying Amount		Accumulated Amortization		Net Book Value
		(In thousands)
Patents:
Intellectual property operations	6 years	$	331,403	$	(294,341)	$	37,062
Industrial operations	7 years	3,400		(112)		3,288
Total patents		$	334,803	$	(294,453)	$	40,350
Customer relationships - industrial operations	7 years	5,300		(174)		5,126
Trade name and trademarks - industrial operations	7 years	3,430		(113)		3,317
Total		$	343,533	$	(294,740)	$	48,793

Total other intangible asset amortization expense in the consolidated statements of operations was $3.0 million and $1.9 million for the three months ended March 31, 2022 and 2021, respectively. The Company did not record charges related to the impairment of other intangible assets for the three months ended March 31, 2022 and 2021. There was no accelerated amortization of other intangible assets for the three months ended March 31, 2022 and 2021. During 2021, Acacia reduced its gross patent costs and accumulated amortization by approximately $35.0 million for patents that were fully amortized. Intellectual Property Operations amortization of patents is expensed in cost of revenues and Industrial Operations amortization is expensed in general and administrative expenses.

The following table presents the scheduled annual aggregate amortization expense (in thousands):

Years Ending December 31,
Remainder of 2022	$	9,102
2023	12,068
2024	10,692
2025	8,348
2026	2,483
Thereafter	3,066
Total	$	45,759

During the year ended December 31, 2021, Acacia accrued certain patent and patent rights acquisition costs, of which $5.0 million is due February 18, 2023. Such amount was included in accrued patent investment costs and other long-term liabilities in the consolidated balance sheets as of March 31, 2022 and December 31, 2021, respectively.