Annual report pursuant to Section 13 and 15(d)

Intangible Assets, net

v3.24.1
Intangible Assets, net
 12 Months Ended
Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]  
Intangible Assets, net
Note H – Intangible Assets, net
The intangible assets gross carrying amount and accumulated amortization were as follows:
December 31, 2023
Gross
carrying
amount		 Accumulated
amortization		 Net
carrying
amount		 Weighted average
useful life
in years
Finite-lived intangible assets:
Customer relationships
 $ 39,824  $ (6,181) $ 33,643  21
Technology
 32,861  (8,833) 24,028  15
Trademarks
 3,172  (1,684) 1,488  9
Internal-use software licenses 3,256  (1,811) 1,445  4
In-process internal-use software
 2,081  —  2,081 
Indefinite-lived intangible assets:
Cosmos Tradename
 300  —  300 
IPR&D
 —  —  — 
Total intangible assets
 $ 81,494  $ (18,509) $ 62,985 

  December 31, 2022
  Gross
carrying
amount		 Accumulated
amortization		 Net
carrying
amount		 Weighted average
useful life
in years
Finite-lived intangible assets:
Customer relationships
 $ 39,593  $ (4,037) $ 35,556  21
Technology
 30,954  (5,012) 25,942  13
Trademarks
 3,172  (1,278) 1,894  7
Internal-use software licenses 2,387  (920) 1,467  3
Indefinite-lived intangible assets:
Cosmos Tradename
 300  —  300 
IPR&D
 1,712  —  1,712 
Total intangible assets
 $ 78,118  $ (11,247) $ 66,871 

There was no impairment recognized related to intangible assets during the year ended December 31, 2023. During the year ended December 31, 2022, the Company recognized impairment expense of $96.6 million, of which $30.9 million related to intangible assets within the Mission Solutions reporting unit. Please refer to Note T – Impairment Expense for additional information related to this impairment.

The table below presents the amortization expense related to intangible assets for the following periods:
Year Ended
  December 31, 2023 December 31, 2022
Amortization expense
 $ 7,212  $ 7,963 
The table below presents the future amortization expense on intangible assets as of December 31, 2023:
Year Total
2024 $ 6,816 
2025 5,968 
2026 5,465 
2027 5,111 
2028 4,743 
Thereafter 32,501 
Total future amortization expense on intangible assets $ 60,604