Quarterly report pursuant to Section 13 or 15(d)

Intangible Assets

v3.19.2
Intangible Assets
6 Months Ended
Jun. 30, 2019
Goodwill and Intangible Assets Disclosure [Abstract]  
Intangible Assets Intangible Assets
The following table summarizes the components of gross and net intangible asset balances (in thousands):
 
June 30, 2019
 
December 31, 2018
 
Gross
Carrying
Amount
 
Accumulated
Impairment
 
Accumulated
Amortization
 
Net Book
Value
 
Gross
Carrying
Amount
 
Accumulated
Impairment
 
Accumulated
Amortization
 
Net Book
Value
Intangible assets with definite lives:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Technology
$
110,516

 
$
(6,636
)
 
$
(53,225
)
 
$
50,655

 
$
111,198

 
$
(6,768
)
 
$
(50,046
)
 
$
54,384

Customer related
99,050

 
(50
)
 
(44,523
)
 
54,477

 
99,440

 
(1,961
)
 
(38,574
)
 
58,905

Trade names
47,047

 
(3,831
)
 
(22,714
)
 
20,502

 
47,217

 
(4,397
)
 
(19,250
)
 
23,570

Internally developed software
16,282

 

 
(15,179
)
 
1,103

 
16,264

 

 
(14,164
)
 
2,100

Patents
2,953

 
(132
)
 
(2,801
)
 
20

 
2,718

 
(133
)
 
(2,524
)
 
61

Service Agreements
1,190

 

 
(962
)
 
228

 
1,190

 

 
(757
)
 
433

Definite-lived intangible assets
$
277,038

 
$
(10,649
)
 
$
(139,404
)
 
$
126,985

 
$
278,027

 
$
(13,259
)
 
$
(125,315
)
 
$
139,453


Finite-lived intangible assets are amortized over their weighted average lives, which are 14 years for technology, 10 years for customer related intangibles, 7 years for trade names, 6 years for internally developed software, 12 years for patents, 2 years for service agreements and 11 years weighted average in total.
Internally developed software consists of $14.1 million relating to costs incurred for development of internal use computer software and $2.2 million for development of software to be sold.
Amortization expense related to intangible assets with definite lives was as follows (in thousands):
 
Three Months Ended 
 June 30,
 
Six Months Ended 
 June 30,
 
2019
 
2018
 
2019
 
2018
Technology
$
1,729

 
$
2,558

 
$
3,467

 
$
4,378

Customer related
2,167

 
2,302

 
4,350

 
5,183

Trade names
1,491

 
1,456

 
2,989

 
3,082

Internally developed software
506

 
528

 
1,010

 
1,058

Patents
20

 
22

 
40

 
43

Service Agreements
$
103

 
$
486

 
205

 
486

Total amortization
$
6,016

 
$
7,352

 
$
12,061

 
$
14,230


The amortization expense amounts shown above include internally developed software not held for sale of $0.5 million and $1.0 million for the three and six months ended June 30, 2019, respectively which is recorded within the Company's income statement as a general and administrative operating expense.

Expected amortization expense related to amortizable intangible assets is as follows (in thousands):
Six months ending December 31, 2019
$
11,333

2020
21,805

2021
20,918

2022
17,473

2023
16,500

2024
14,592

Thereafter
24,364

Total expected amortization expense
$
126,985