| 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):
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March 31, 2018 |
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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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$ |
42,999 |
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$ |
22,800 |
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$ |
20,199 |
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Existing technology -- games |
5.0 |
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12,331 |
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12,331 |
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— |
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Developed technology |
8.0 |
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7,317 |
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4,116 |
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3,201 |
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Customer relationships |
7.9 |
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170,716 |
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91,056 |
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79,660 |
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Backlog |
3.0 |
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18,300 |
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|
10,167 |
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|
8,133 |
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Other |
4.5 |
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2,746 |
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|
1,920 |
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|
826 |
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Total |
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$ |
254,409 |
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$ |
142,390 |
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$ |
112,019 |
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December 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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$ |
42,999 |
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$ |
20,209 |
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$ |
22,790 |
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Existing technology -- games |
5.0 |
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12,331 |
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|
12,125 |
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|
206 |
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Developed technology |
8.0 |
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7,317 |
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|
3,887 |
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|
3,430 |
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Customer relationships |
7.9 |
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170,716 |
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|
85,160 |
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|
85,556 |
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Backlog |
3.0 |
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18,300 |
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|
8,642 |
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|
9,658 |
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Other |
4.5 |
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2,746 |
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|
1,804 |
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|
942 |
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Total |
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$ |
254,409 |
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$ |
131,827 |
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$ |
122,582 |
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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 |
2018 (remaining nine months) |
$ |
27,879 |
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2019 |
28,647 |
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2020 |
22,263 |
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2021 |
13,824 |
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2022 |
7,907 |
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Thereafter |
11,499 |
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Total |
$ |
112,019 |
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We recorded amortization expense of $10.7 million and $11.0 million for the three months ended March 31, 2018 and 2017, respectively.
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