Quarterly report pursuant to Section 13 or 15(d)

Intangible Assets, net

v3.8.0.1
Intangible Assets, net
3 Months Ended
Mar. 31, 2017
Goodwill and Intangible Assets Disclosure [Abstract]  
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):

 
 
 
March 31, 2017
 
Weighted Average Useful Lives (Years)
 
Gross Carrying Amount
 
Accumulated Amortization
 
Net Carrying Amount
Existing technology -- software
4.8
 
$
43,019

 
$
12,433

 
$
30,586

Existing technology -- games
5.0
 
12,331

 
10,276

 
2,055

Developed technology
8.0
 
7,317

 
3,201

 
4,116

Customer relationships
7.9
 
170,716

 
67,474

 
103,242

Backlog
3.0
 
18,300

 
4,067

 
14,233

Other
4.5
 
3,608

 
2,225

 
1,383

Total
 
 
$
255,291

 
$
99,676

 
$
155,615


 
 
 
December 31, 2016
 
Weighted Average Useful Lives (Years)
 
Gross Carrying Amount
 
Accumulated Amortization
 
Net Carrying Amount
Existing technology -- software
4.8
 
$
43,019

 
$
9,842

 
$
33,177

Existing technology -- games
5.0
 
12,331

 
9,659

 
2,672

Developed technology
8.0
 
7,317

 
2,973

 
4,344

Customer relationships
7.9
 
170,716

 
61,579

 
109,137

Backlog
3.0
 
18,300

 
2,542

 
15,758

Other
4.5
 
3,702

 
2,070

 
1,632

Total
 
 
$
255,385

 
$
88,665

 
$
166,720



We expect to record amortization of intangible assets as follows (in thousands):

Year ending December 31,       
Amount
2017 (remaining nine months)
$
32,985

2018
38,486

2019
28,691

2020
22,307

2021
13,826

Thereafter
19,320

Total
$
155,615


    

We recorded amortization expense of $11.0 million and $7.4 million for the three months ended March 31, 2017 and 2016, respectively.