| Intangible Assets, net |
Intangible Assets, net
As a result of historical business combinations, the Company acquired finite-lived intangible assets that are primarily amortized on a straight-line basis and the values of which approximate their expected cash flow patterns. The Company’s finite-lived intangible assets have assigned useful lives ranging from 2.0 to 10.0 years (weighted average of 6.8 years).
Intangible assets, net consisted of the following (dollars in thousands):
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March 31, 2017 |
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Weighted Average Useful Lives (Years) |
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Gross Carrying Amount |
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Accumulated Amortization |
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Net Carrying Amount |
Existing technology -- software |
4.8 |
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$ |
43,019 |
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$ |
12,433 |
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$ |
30,586 |
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Existing technology -- games |
5.0 |
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12,331 |
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10,276 |
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|
2,055 |
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Developed technology |
8.0 |
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7,317 |
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|
3,201 |
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4,116 |
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Customer relationships |
7.9 |
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170,716 |
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67,474 |
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103,242 |
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Backlog |
3.0 |
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18,300 |
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|
4,067 |
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14,233 |
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Other |
4.5 |
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3,608 |
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|
2,225 |
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|
1,383 |
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Total |
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$ |
255,291 |
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$ |
99,676 |
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$ |
155,615 |
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December 31, 2016 |
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Weighted Average Useful Lives (Years) |
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Gross Carrying Amount |
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Accumulated Amortization |
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Net Carrying Amount |
Existing technology -- software |
4.8 |
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$ |
43,019 |
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$ |
9,842 |
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$ |
33,177 |
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Existing technology -- games |
5.0 |
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12,331 |
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9,659 |
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2,672 |
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Developed technology |
8.0 |
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7,317 |
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2,973 |
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4,344 |
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Customer relationships |
7.9 |
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170,716 |
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|
61,579 |
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|
109,137 |
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Backlog |
3.0 |
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18,300 |
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|
2,542 |
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|
15,758 |
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Other |
4.5 |
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3,702 |
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|
2,070 |
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|
1,632 |
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Total |
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$ |
255,385 |
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$ |
88,665 |
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$ |
166,720 |
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We expect to record amortization of intangible assets as follows (in thousands):
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Year ending December 31,
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Amount |
2017 (remaining nine months) |
$ |
32,985 |
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2018 |
38,486 |
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2019 |
28,691 |
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2020 |
22,307 |
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2021 |
13,826 |
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Thereafter |
19,320 |
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Total |
$ |
155,615 |
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We recorded amortization expense of $11.0 million and $7.4 million for the three months ended March 31, 2017 and 2016, respectively.
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