Current report of foreign issuer pursuant to Rules 13a-16 and 15d-16 Amendments

Goodwill and Other Intangible Assets

v3.23.2
Goodwill and Other Intangible Assets
 6 Months Ended
Jun. 30, 2023
Goodwill and Other Intangible Assets [Abstract]  
Goodwill and Other Intangible Assets

Note 7. Goodwill and Other Intangible Assets

       Goodwill

Changes in the carrying amount of the Company’s goodwill during the six months ended June 30, 2023 were as follows:
    U.S. $ in thousands
     
Goodwill as of January 1, 2023   $ 64,953  
Goodwill acquired     27,835  
Foreign currency translation adjustments     158  
Goodwill as of June 30, 2023   $ 92,946  
       

       Other Intangible Assets

Other intangible assets consisted of the following:

    June 30, 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   $ 406,738   $ (292,135 )    $ 114,603     $ 387,603     $ (283,671 )    $ 103,932  
Patents     17,958     (9,640 )      8,318       17,508       (8,970 )      8,538  
Trademarks and trade names     21,368     (14,776 )      6,592       16,278       (14,030 )      2,248  
Customer relationships     109,419       (90,319 )      19,100       93,609       (86,925 )      6,684  
Capitalized software development costs     7,066       (7,066 )     
-
       7,066       (7,066 )     
-
  
    $ 562,549     $ (413,936 )    $ 148,613     $ 522,064   $ (400,662 )  $ 121,402  

Amortization expenses relating to intangible assets for the three-month periods ended June 30, 2023 and 2022 were approximately $7.1 million and $9.2 million, respectively. Amortization expenses relating to intangible assets for the six-month periods ended June 30, 2023 and 2022 were approximately $13.3 million and $18.4 million, respectively.

As of June 30, 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 6 months of 2023   $ 14,202  
2024     23,774  
2025     22,371  
2026     22,293  
2027     20,892  
2028 and thereafter     45,081  
Total   $ 148,613