| Goodwill and Intangible Assets Disclosure |
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, 2024 were as follows:
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U.S. $ in thousands |
| Goodwill as of January 1, 2024 |
|
$ |
100,051 |
|
| Foreign currency translation adjustments |
|
(930) |
|
| Goodwill as of March 31, 2024 |
|
$ |
99,121 |
|
Other Intangible Assets
Other intangible assets consisted of the following:
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March 31, 2024 |
December 31, 2023 |
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|
Carrying Amount, net of Impairment |
Accumulated Amortization |
Net book value |
Carrying Amount, net of Impairment |
Accumulated Amortization |
Net book value |
| Developed technology |
|
$ |
403,040 |
|
$ |
(305,143) |
|
$ |
97,897 |
|
$ |
403,180 |
|
$ |
(300,780) |
|
$ |
102,400 |
|
| Patents |
|
20,115 |
|
(10,636) |
|
9,479 |
|
19,396 |
|
(10,246) |
|
9,150 |
|
| Trademarks and trade names |
|
22,150 |
|
(16,425) |
|
5,725 |
|
22,286 |
|
(15,936) |
|
6,350 |
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| Customer relationships |
|
102,716 |
|
(94,622) |
|
8,094 |
|
102,520 |
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(92,639) |
|
9,881 |
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| Capitalized software development costs |
|
3,308 |
|
(3,308) |
|
— |
|
4,367 |
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(4,367) |
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— |
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|
|
|
|
|
|
|
|
|
|
$ |
551,329
|
|
$ |
(430,134) |
|
$ |
121,195
|
|
$ |
551,749
|
|
$ |
(423,968) |
|
$ |
127,781
|
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Amortization expenses relating to intangible assets for the three months ended March 31, 2024 and 2023 were approximately $6.9 million and $6.2 million, respectively.
As of March 31, 2024, the estimated amortization expenses relating to intangible assets for each of the following future periods were as follows:
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Estimated amortization expenses |
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U.S. $ in thousands |
| Remaining 9 months of 2024 |
|
|
|
$ |
17,181 |
|
| 2025 |
|
|
|
21,405 |
| 2026 |
|
|
|
21,327 |
| 2027 |
|
|
|
20,490 |
| 2028 |
|
|
|
16,401 |
| 2029 and thereafter |
|
|
|
24,391 |
| Total |
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|
|
$ |
121,195 |
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