Stratasys Ltd. Annual and transition report of foreign private issuers pursuant to Section 13 or 15(d)

Annual and transition report of foreign private issuers pursuant to Section 13 or 15(d)

Other Intangible Assets, Net

Other Intangible Assets, Net

12 Months Ended

Dec. 31, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Other Intangible Assets, Net

Note 8. Other Intangible Assets, Net

Other intangible assets consisted of the following:

	December 31, 2021							December 31, 2020
		Carrying Amount,					Net		Carrying Amount,					Net
		Net of		Accumulated			Book		Net of		Accumulated			Book
		Impairment		Amortization			Value		Impairment		Amortization			Value
	U.S. $ in thousands
Developed technology	$	406,578	$	(279,037	)	$	127,541	$	357,863	$	(260,123	)	$	97,740
Patents		16,220		(8,503	)		7,717		17,699		(8,487	)		9,212
Trademarks and trade names		26,055		(22,241	)		3,814		26,036		(21,114	)		4,922
Customer relationships		100,731		(87,559	)		13,172		101,107		(81,413	)		19,695
Capitalized software development costs		7,410		(7,410	)		-		7,410		(7,410	)		-

	$	556,994	$	(404,750	)	$	152,244	$	510,115	$	(378,547	)	$	131,569

Amortization expenses

Amortization expense relating to intangible assets for the years ended December 31, 2021, 2020 and 2019, was approximately $31.3 million, $24.3 million and $25.2 million, respectively.

As of December 31, 2021, estimated future amortization expense relating to definite life intangible assets for each of the next five years and thereafter were as follows:

		Estimated amortization expenses
Year ending December 31,		(U.S. $ in thousands)
2022		36,626
2023		22,106
2024		18,188
2025		15,600
2026		15,517
2027 and thereafter		44,207
Total		152,244

During the year ended December 31, 2020, the Company recorded impairment charges of $5.3 million, related to its definite life intangible assets. No impairment charges were recorded during 2021 and 2019.