Anuvu Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Intangible Assets, net

Intangible Assets, net

6 Months Ended

Jun. 30, 2019

Goodwill and Intangible Assets Disclosure [Abstract]

As a result of historical business combinations, the Company acquired finite-lived intangible assets that are primarily amortized on a straight-line basis, which approximate their expected cash flow patterns. The Company’s finite-lived intangible assets have been assigned useful lives ranging from 2.0 to 10.0 years (weighted average of 7.5 years).

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



		June 30, 2019
	Weighted Average Useful Lives	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Intangible assets:
Existing technology -- software	5.2 years	$	36,799	$	26,806	$	9,993
Developed technology	8.0 years	7,317		5,259		2,058
Customer relationships	8.7 years	138,358		82,839		55,519
Backlog	3.0 years	18,300		17,793		507
Other	5.1 years	1,248		791		457
Total		$	202,022	$	133,488	$	68,534



		December 31, 2018
	Weighted Average Useful Lives	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Intangible assets:
Existing technology -- software	5.2 years	$	36,799	$	23,114	$	13,685
Developed technology	8.0 years	7,317		4,802		2,515
Customer relationships	8.7 years	138,358		74,558		63,800
Backlog	3.0 years	18,300		14,742		3,558
Other	5.1 years	1,249		671		578
Total		$	202,023	$	117,887	$	84,136

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



Year ending December 31,	Amount
2019 (remaining six months)	$	13,045
2020	22,263
2021	13,824
2022	7,907
2023	6,890
Thereafter	4,605
Total	$	68,534

We recorded amortization expense of $7.8 million and $10.4 million for the three months ended June 30, 2019 and 2018, respectively, and $15.6 million and $20.9 million for the six months ended June 30, 2019 and 2018, respectively.