Quarterly report pursuant to Section 13 or 15(d)

INTANGIBLE ASSETS, NET

v3.21.2
INTANGIBLE ASSETS, NET
 9 Months Ended
Sep. 30, 2021
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, 2021 December 31, 2020 September 30, 2020
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) (14,198) (14,198)
Customer relationships (18,600) (17,363) (16,950)
Accumulated amortization (32,798) (31,561) (31,148)
Net carrying amount 4,400  5,637  6,050 
Intangible assets not subject to amortization 97,921  97,921  115,421 
Intangible assets, net $ 102,321  $ 103,558  $ 121,471 
Amortization expense for intangible assets subject to amortization was $0.4 million and $0.6 million for the three months ended September 30, 2021 and 2020, respectively, and was $1.2 million and $2.1 million for the nine months ended September 30, 2021, and 2020, respectively.
The following table presents the estimated annual amortization expense for the years ending 2021 through 2025:
(in thousands)
2021 $ 1,650 
2022 1,650 
2023 1,650 
2024 688 
2025 —