Quarterly report pursuant to Section 13 or 15(d)

Intangible Assets, Net

v3.20.2
Intangible Assets, Net
 9 Months Ended
Sep. 30, 2020
Goodwill and Intangible Assets Disclosure [Abstract]  
Intangible Assets, Net
NOTE 3—INTANGIBLE ASSETS, NET
Intangible assets, net consisted of the following:
(in thousands) September 30,
2020		 December 31,
2019		 September 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 (14,198) (13,311) (12,979)
Customer relationships (16,950) (15,713) (15,300)
Total accumulated amortization (31,148) (29,024) (28,279)
Net carrying amount 6,050  8,174  8,919 
Intangible assets not subject to amortization 115,421  115,421  115,421 
Intangible assets, net $ 121,471  $ 123,595  $ 124,340 
Amortization expense for intangible assets subject to amortization was $0.6 million and $0.7 million for the three months ended September 30, 2020 and 2019, respectively, and was $2.1 million and $2.2 million for the nine months ended September 30, 2020 and 2019, respectively.
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