Quarterly report pursuant to Section 13 or 15(d)

Intangible Assets, net

v3.8.0.1
Intangible Assets, net
3 Months Ended
Mar. 31, 2018
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 6.9 years).

Intangible assets, net consisted of the following (dollars in thousands):

 
 
 
March 31, 2018
 
Weighted Average Useful Lives (Years)
 
Gross Carrying Amount
 
Accumulated Amortization
 
Net Carrying Amount
Existing technology -- software
4.8
 
$
42,999

 
$
22,800

 
$
20,199

Existing technology -- games
5.0
 
12,331

 
12,331

 

Developed technology
8.0
 
7,317

 
4,116

 
3,201

Customer relationships
7.9
 
170,716

 
91,056

 
79,660

Backlog
3.0
 
18,300

 
10,167

 
8,133

Other
4.5
 
2,746

 
1,920

 
826

Total
 
 
$
254,409

 
$
142,390

 
$
112,019


 
 
 
December 31, 2017
 
Weighted Average Useful Lives (Years)
 
Gross Carrying Amount
 
Accumulated Amortization
 
Net Carrying Amount
Existing technology -- software
4.8
 
$
42,999

 
$
20,209

 
$
22,790

Existing technology -- games
5.0
 
12,331

 
12,125

 
206

Developed technology
8.0
 
7,317

 
3,887

 
3,430

Customer relationships
7.9
 
170,716

 
85,160

 
85,556

Backlog
3.0
 
18,300

 
8,642

 
9,658

Other
4.5
 
2,746

 
1,804

 
942

Total
 
 
$
254,409

 
$
131,827

 
$
122,582



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

Year ending December 31,       
Amount
2018 (remaining nine months)
$
27,879

2019
28,647

2020
22,263

2021
13,824

2022
7,907

Thereafter
11,499

Total
$
112,019


    

We recorded amortization expense of $10.7 million and $11.0 million for the three months ended March 31, 2018 and 2017, respectively.