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

Goodwill and Other Intangible Assets

v3.23.3
Goodwill and Other Intangible Assets
 9 Months Ended
Sep. 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 nine months ended September 30, 2023 were as follows:
    U.S. $ in thousands
     
Goodwill as of January 1, 2023   $ 64,953  
Goodwill acquired     24,973  
Foreign currency translation adjustments     261  
Goodwill as of September 30, 2023   $ 90,187  
       

       Other Intangible Assets

Other intangible assets consisted of the following as of the below balance sheet dates:

    September 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   $ 406,822   $ (296,590 )    $ 110,232     $ 387,603     $ (283,671 )    $ 103,932  
Patents     18,963     (9,989 )      8,974       17,508       (8,970 )      8,538  
Trademarks and trade names     21,355     (15,224 )      6,131       16,278       (14,030 )      2,248  
Customer relationships     107,948       (92,084 )      15,864       93,609       (86,925 )      6,684  
Capitalized software development costs     7,066       (7,066 )     
-
       7,066       (7,066 )     
-
  
    $ 562,154     $ (420,953 )    $ 141,201     $ 522,064   $ (400,662 )  $ 121,402  

Amortization expenses relating to intangible assets for the three-month periods ended September 30, 2023 and 2022 were approximately $7.0 million and $9.0 million, respectively. Amortization expenses relating to intangible assets for the nine-month periods ended September 30, 2023 and 2022 were approximately $20.5 million and $27.4 million, respectively.

As of September 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 3 months of 2023   $ 7,368  
2024     23,725  
2025     22,323  
2026     22,246  
2027     20,845  
2028 and thereafter     44,694  
Total   $ 141,201