Goodwill and Other Intangible Assets
|9 Months Ended|
Sep. 30, 2021
|Goodwill And Intangible Assets Disclosure [Abstract]|
|Goodwill and Other Intangible Assets||
GOODWILL AND OTHER INTANGIBLE ASSETS
The changes in the carrying amount of goodwill by reportable segment for the nine months ended September 30, 2021 are as follows (in thousands):
Intangible assets and related accumulated amortization as of September 30, 2021 and December 31, 2020 are as follows (in thousands):
(1) Amounts include the effect of foreign exchange.
On May 7, 2020, the Company recorded an in-process research and development intangible asset associated with the LaderaTech acquisition. The intangible asset was completed prior to December 31, 2020 and thus transferred out from indefinite-life intangible assets and into intangible assets subject to amortization. For this reason, the LaderaTech technology was presented as “Existing technology” as of December 31, 2020 along with accumulated amortization.
Amortization expense for definite-lived intangible assets for the three and nine months ended September 30, 2021 was $13,276 and $39,818, respectively, compared to $12,836 and $38,264 for the three and nine months ended September 30, 2020, respectively.
Estimated annual amortization expense of intangible assets for the five years subsequent to September 30, 2021 and thereafter is as follows (in thousands):
The entire disclosure for goodwill and intangible assets.
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef