| Intangible Assets |
Intangible Assets
The following table summarizes the components of gross and net intangible asset balances (in thousands):
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September 30, 2017 |
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December 31, 2016 |
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Gross
Carrying
Amount |
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Accumulated
Impairment |
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Accumulated
Amortization |
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Net Book
Value |
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Gross
Carrying
Amount |
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Accumulated
Impairment |
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Accumulated
Amortization |
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Net Book
Value |
Intangible assets with definite lives: |
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Technology |
$ |
90,653 |
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$ |
— |
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$ |
(40,465 |
) |
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$ |
50,188 |
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$ |
64,563 |
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$ |
— |
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$ |
(34,683 |
) |
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$ |
29,880 |
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Customer related |
80,989 |
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— |
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(25,480 |
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55,509 |
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38,087 |
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— |
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(17,610 |
) |
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20,477 |
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Trade names |
43,990 |
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(3,460 |
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(11,790 |
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28,740 |
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32,106 |
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(3,290 |
) |
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(7,135 |
) |
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21,681 |
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Internally developed software |
15,722 |
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— |
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(11,685 |
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4,037 |
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14,978 |
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— |
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(10,220 |
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4,758 |
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Patents |
2,759 |
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— |
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(2,452 |
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307 |
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2,620 |
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— |
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(2,251 |
) |
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369 |
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Definite-lived intangible assets |
$ |
234,113 |
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$ |
(3,460 |
) |
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$ |
(91,872 |
) |
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$ |
138,781 |
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$ |
152,354 |
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$ |
(3,290 |
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$ |
(71,899 |
) |
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$ |
77,165 |
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Finite-lived intangible assets are amortized over their weighted average lives, which are 14 years for technology, 10 years for customer related intangibles, 6 years for internally developed software, 7 years for trade names, 13 years for patents, and 11 years in total.
Internally developed software consists of $13.3 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):
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Three Months Ended
September 30, |
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Nine Months Ended
September 30, |
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2017 |
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2016 |
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2017 |
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2016 |
Technology |
$ |
1,614 |
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$ |
863 |
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$ |
4,731 |
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$ |
2,571 |
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Customer related |
2,264 |
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848 |
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6,627 |
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2,495 |
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Trade names |
1,481 |
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1,139 |
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4,385 |
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3,176 |
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Internally developed software |
504 |
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602 |
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1,511 |
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1,618 |
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Patents |
29 |
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28 |
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85 |
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84 |
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Total amortization |
$ |
5,892 |
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$ |
3,480 |
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$ |
17,339 |
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$ |
9,944 |
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Expected amortization expense related to amortizable intangible assets is as follows (in thousands):
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Three months ending December 31, 2017 |
$ |
5,403 |
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2018 |
21,383 |
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2019 |
20,220 |
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2020 |
18,018 |
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2021 |
16,572 |
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2022 |
12,806 |
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Thereafter |
44,379 |
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Total expected amortization expense |
$ |
138,781 |
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