Annual report pursuant to Section 13 and 15(d)

Intangible Assets

v3.20.4
Intangible Assets
12 Months Ended
Dec. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]  
Intangible Assets Intangible Assets
Intangible assets are amortized over their useful lives on a straight-line basis. The following table summarizes the Company’s intangible assets as of December 31, 2020 and 2019:
December 31, 2020
(in thousands) Weighted Average
Life (in years)
Gross Carrying
Value
Accumulated
Amortization
Net Carrying
Amount
Patents 11 $ 1,651  $ (1,203) $ 448 
Acquired intellectual property and reacquired rights 11 15,126  (7,770) 7,356 
Cloud computing arrangements 3 1,675  (147) 1,528 
11 $ 18,452  $ (9,120) $ 9,332 
December 31, 2019
(in thousands) Weighted Average
Life (in years)
Gross Carrying
Value
Accumulated
Amortization
Net Carrying
Amount
Patents 12 $ 1,568  $ (1,097) $ 471 
Acquired intellectual property and reacquired rights 12 15,126  (6,735) 8,391 
12 $ 16,694  $ (7,832) $ 8,862 
Amortization expense recognized by the Company related to intangible assets was $1.3 million, $1.1 million and $1.3 million for the years ended December 31, 2020, 2019 and 2018, respectively. Amortization expense as it relates to the amortization of acquired intellectual property and other intangible assets resides within amortization on the consolidated statements of operations. The estimated aggregate amortization expense for intangible assets over the next five fiscal years ending December 31, 2021 through December 31, 2025 is approximately $7.0 million.