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

9 Months Ended

Sep. 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):



		September 30, 2019
	Weighted Average Useful Lives	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Intangible assets:
Existing technology -- software	5.2 years	$	36,799	$	28,647	$	8,152
Developed technology	8.0 years	7,317		5,488		1,829
Customer relationships	8.7 years	138,358		86,980		51,378
Backlog	3.0 years	18,300		18,300		—
Other	5.1 years	1,248		853		395
Total		$	202,022	$	140,268	$	61,754



		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 three months)	$	6,268
2020	22,263
2021	13,824
2022	7,907
2023	6,890
Thereafter	4,602
Total	$	61,754

We recorded amortization expense of $6.8 million and $9.4 million for the three months ended September 30, 2019 and 2018, respectively, and $22.4 million and $30.4 million for the nine months ended September 30, 2019 and 2018, respectively.