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

Other Intangible Assets, Net

v3.22.4
Other Intangible Assets, Net
 12 Months Ended
Dec. 31, 2022
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, 2022   December 31, 2021
    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   $ 387,603     $ (283,671 )    $ 103,932     $ 406,578     $ (279,037 )    $ 127,541  
Patents     17,508       (8,970 )      8,538       16,220       (8,503 )      7,717  
Trademarks and trade names     16,278       (14,030 )      2,248       26,055       (22,241 )      3,814  
Customer relationships     93,609       (86,925 )      6,684       100,731       (87,559 )      13,172  
Capitalized software development costs     7,066       (7,066 )     
-
       7,410       (7,410 )     
-
  
                           
    $ 522,064     $ (400,662 )    $ 121,402     $ 556,994     $ (404,750 )    $ 152,244  

Amortization expenses

Amortization expense relating to intangible assets for the years ended December 31, 2022, 2021 and 2020, was approximately $37.1 million, $31.3 million and $24.3 million, respectively.

As of December 31, 2022, 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)
2023   23,409
2024   19,343
2025   16,851
2026   16,765
2027   15,797
2028 and thereafter   29,237
Total   121,402

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 2022 and 2021.