Quarterly report pursuant to Section 13 or 15(d)

Intangible Assets, Net

v3.20.2
Intangible Assets, Net
6 Months Ended
Jun. 30, 2020
Goodwill and Intangible Assets Disclosure [Abstract]  
Intangible Assets, Net
Intangible assets, net consisted of the following:
(in thousands) June 30,
2020
December 31,
2019
June 30,
2019
Intangible assets subject to amortization:
Patents and purchased technology $ 14,198    $ 14,198    $ 14,198   
Customer relationships 23,000    23,000    23,000   
Gross carrying amount 37,198    37,198    37,198   
Accumulated amortization:
Patents and purchased technology (13,976)   (13,311)   (12,646)  
Customer relationships (16,538)   (15,713)   (14,888)  
Total accumulated amortization (30,514)   (29,024)   (27,534)  
Net carrying amount 6,684    8,174    9,664   
Intangible assets not subject to amortization 115,421    115,421    115,421   
Intangible assets, net $ 122,105    $ 123,595    $ 125,085   
Amortization expense for intangible assets subject to amortization was $0.7 million for both the three months ended June 30, 2020 and 2019, and was $1.5 million for both the six months ended June 30, 2020 and 2019.
Annual amortization expense is estimated to be as follows for the years 2020 through 2024:
(in thousands)
2020 $ 2,537   
2021 1,650   
2022 1,650   
2023 1,650   
2024 688