| Goodwill and Other Intangible Assets |
Note 6. Goodwill and Other Intangible Assets
Goodwill
Changes in the carrying amount of the Company’s goodwill during the three months ended March 31, 2023 were as follows:
| |
|
|
U.S. $ in thousands |
|
| |
|
|
|
|
| Goodwill as of January 1, 2023 |
|
$ |
64,953 |
|
| Goodwill acquired |
|
|
4,743 |
|
| Foreign currency translation adjustments |
|
|
39 |
|
| Goodwill as of March 31, 2023 |
|
$ |
69,735 |
|
Other Intangible Assets
Other intangible assets consisted of the following:
| |
|
March 31, 2023 |
|
December 31, 2022 |
| |
|
|
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 |
|
$ |
392,867 |
|
|
$ |
(287,704 |
) |
|
$ |
105,163 |
|
|
$ |
387,603 |
|
|
$ |
(283,671 |
) |
|
$ |
103,932 |
|
| Patents |
|
|
17,808 |
|
|
|
(9,302 |
) |
|
|
8,506 |
|
|
|
17,508 |
|
|
|
(8,970 |
) |
|
|
8,538 |
|
| Trademarks and trade names |
|
|
17,291 |
|
|
|
(14,328 |
) |
|
|
2,963 |
|
|
|
16,278 |
|
|
|
(14,030 |
) |
|
|
2,248 |
|
| Customer relationships |
|
|
101,619 |
|
|
|
(88,495 |
) |
|
|
13,124 |
|
|
|
93,609 |
|
|
|
(86,925 |
) |
|
|
6,684 |
|
| Capitalized software development costs |
|
|
7,066 |
|
|
|
(7,066 |
) |
|
|
- |
|
|
|
7,066 |
|
|
|
(7,066 |
) |
|
|
- |
|
| |
|
$ |
536,651 |
|
|
$ |
(406,895 |
) |
|
$ |
129,756 |
|
|
$ |
522,064 |
|
|
$ |
(400,662 |
) |
|
$ |
121,402 |
|
Amortization expenses relating to intangible assets for the three-month period ended March 31, 2023 and 2022 were approximately $6.2 million and $9.2 million, respectively.
As of March 31, 2023, the estimated amortization expenses relating to intangible assets for each of the following future periods were as follows:
| |
|
|
Estimated |
|
| |
|
|
amortization expenses |
|
| |
|
|
(U.S. $ in thousands) |
|
| Remaining 9 months of 2023 |
|
$ |
19,362 |
|
| 2024 |
|
|
21,627 |
|
| 2025 |
|
|
19,149 |
|
| 2026 |
|
|
19,063 |
|
| 2027 |
|
|
18,099 |
|
| 2028 and thereafter |
|
|
32,456 |
|
| Total |
|
$ |
129,756 |
|
|