Anuvu Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

Intangible Assets, net

Intangible Assets, net

12 Months Ended

Dec. 31, 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 assigned useful lives ranging from 2.0 to 10.0 years.

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



		December 31, 2019
	Weighted Average Useful Lives	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Existing technology - software	5.2 years	$	36,799	$	30,487	$	6,312
Developed technology	8.0 years	7,317		5,716		1,601
Customer relationships	8.7 years	138,358		91,124		47,234
Backlog	3.0 years	18,300		18,300		—
Other	5.1 years	1,249		913		336
Total		$	202,023	$	146,540	$	55,483



		December 31, 2018
	Weighted Average Useful Lives	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
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

The Company expects to record amortization of the intangible assets as follows (in thousands):



Year Ending December 31,	Amount
2020	$	22,262
2021	13,824
2022	7,907
2023	6,890
2024	4,230
Thereafter	370
Total	$	55,483

The Company recorded amortization expense of $28.6 million and $38.4 million, and for the years ended December 31, 2019 and 2018, respectively.