| Intangible Assets, Net |
Intangible assets, net consisted of the following:
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| (in thousands) |
|
March 31,
2020 |
|
December 31,
2019 |
|
March 31,
2019 |
| Intangible assets subject to amortization: |
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|
|
|
|
| Patents and purchased technology |
|
$ |
14,198 |
|
|
$ |
14,198 |
|
|
$ |
14,198 |
|
| Customer relationships |
|
23,000 |
|
|
23,000 |
|
|
23,000 |
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|
|
|
|
|
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| Gross carrying amount |
|
37,198 |
|
|
37,198 |
|
|
37,198 |
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| Accumulated amortization: |
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|
|
|
|
|
| Patents and purchased technology |
|
(13,644) |
|
|
(13,311) |
|
|
(12,314) |
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| Customer relationships |
|
(16,125) |
|
|
(15,713) |
|
|
(14,475) |
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|
|
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| Total accumulated amortization |
|
(29,769) |
|
|
(29,024) |
|
|
(26,789) |
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| Net carrying amount |
|
7,429 |
|
|
8,174 |
|
|
10,409 |
|
| Intangible assets not subject to amortization |
|
115,421 |
|
|
115,421 |
|
|
115,421 |
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| Intangible assets, net |
|
$ |
122,850 |
|
|
$ |
123,595 |
|
|
$ |
125,830 |
|
Amortization expense for intangible assets subject to amortization was $0.7 million for each of the three months ended March 31, 2020 and 2019.
Annual amortization expense is estimated to be as follows for the years 2020 through 2024:
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| (in thousands) |
|
|
| 2020 |
$ |
2,537 |
|
| 2021 |
1,650 |
|
| 2022 |
1,650 |
|
| 2023 |
1,650 |
|
| 2024 |
688 |
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