Quarterly report pursuant to Section 13 or 15(d)

Intangible Assets, Net and Goodwill

v3.19.3
Intangible Assets, Net and Goodwill
 9 Months Ended
Sep. 30, 2019
Goodwill and Intangible Assets Disclosure [Abstract]  
Intangible Assets, Net and Goodwill INTANGIBLE ASSETS, NET
The following table summarizes the Company's identifiable Intangible assets, net balance:
(in thousands)
 
September 30,
2019
 
December 31,
2018
 
September 30,
2018
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
 
(12,979
)
 
(11,981
)
 
(11,649
)
Customer relationships
 
(15,300
)
 
(14,063
)
 
(13,650
)
Total accumulated amortization
 
(28,279
)
 
(26,044
)
 
(25,299
)
Net carrying amount
 
8,919

 
11,154

 
11,899

Intangible assets not subject to amortization
 
115,421

 
115,421

 
115,421

Intangible assets, net
 
$
124,340

 
$
126,575

 
$
127,320


Amortization expense for intangible assets subject to amortization was $0.7 million for each of the three months ended September 30, 2019 and 2018 and was $2.2 million for each of the nine months ended September 30, 2019 and 2018.
Annual amortization expense is estimated to be as follows for the years 2019 through 2023:
(in thousands)
 
2019
$
2,980

2020
2,537

2021
1,650

2022
1,650

2023
1,650