GOODWILL AND INTANGIBLE ASSETS
Goodwill
The Company’s gross carrying amount of goodwill was $137.4 million and $138.1 million as of December 31, 2013 and 2012, respectively. The Company acquired its Korean distributor on January 11, 2012. The total purchase consideration of the acquisition was not material, and the acquisition has not had a material impact on the results of our operations.
Intangibles
The gross carrying amount of total intangible assets, primarily representing purchased intellectual property, was $179.7 million and $177.7 million as of December 31, 2013 and 2012, respectively.
Additions made to intangibles assets, including intellectual property and asset purchase, during the years ended December 31, 2013 and 2012 were $2.0 million and $41.6 million, respectively. The weighted average useful life was six years for each of the years ended December 31, 2013 and 2012. Amortization expense related to intangible assets was $21.3 million, $23.1 million, and $17.8 million for the years ended December 31, 2013, 2012, and 2011, respectively. Accumulated amortization of intangible assets was $115.4 million and $94.1 million as of December 31, 2013 and 2012, respectively.
The estimated future amortization expense of intangible assets as of December 31, 2013 is as follows (in millions):
|
| | | |
Fiscal Year | Amount |
2014 | $ | 18.0 |
|
2015 | 17.7 |
|
2016 | 14.7 |
|
2017 | 8.8 |
|
2018 | 5.1 |
|
2019 and thereafter | — |
|
Total | $ | 64.3 |
|
