Intangible Assets
 12 Months Ended
Dec. 31, 2013
Intangible Assets  
Intangible Assets

12. Intangible Assets

Intangible assets, consisting of acquired technology and customer relationships, are amortized using the straight-line method over their useful lives of eight years.

The gross carrying amount and accumulated amortization of the Company’s acquired identifiable intangible assets as of December 31, 2013 are as follows:

 

 

Weighted Average

 

Gross Carrying

 

Accumulated

 

 

 

 

Amortization Period

 

Amount

 

Amortization

 

Total

 

 

 

 

 

 

 

 

 

 

 

 

Acquired Technology

8 years

 

 

$

17,036,835 

 

$

(14,301,907)

 

$

2,734,928 

 

Customer Relationships

8 years

 

 

1,000,000 

 

(833,333)

 

166,667 

 

 

 

 

 

 

$

18,036,835 

 

$

(15,135,240)

 

$

2,901,595 

 

 

 

 

 

 

 

 

 

 

 

 

The gross carrying amount and accumulated amortization of the Company’s acquired identifiable intangible assets as of December 31, 2012 are as follows: 

 

 

Weighted Average

 

Gross Carrying

 

Accumulated

 

 

 

 

Amortization Period

 

Amount

 

Amortization

 

Total

 

 

 

 

 

 

 

 

 

 

 

 

Acquired Technology

8 years

 

 

$

17,134,953 

 

$

(12,156,049)

 

$

4,978,904 

 

Customer Relationships

8 years

 

 

1,000,000 

 

(708,333)

 

291,667 

 

 

 

 

 

 

$

18,134,953 

 

$

(12,864,382)

 

$

5,270,571 

 

 

 

 

 

 

 

 

 

 

 

 The change in the gross carrying amount of the acquired technology from December 31, 2012 to December 31, 2013 is due to changes in foreign exchange rates.

 

Amortization expense for acquired identifiable intangible assets for the years ended December 31, 2013, 2012, and 2011 was $2.3 million, $2.3 million, and $2.3 million, respectively. Estimated amortization expense for subsequent years is as follows:

 

2014

$

2,263,776 

2015

637,819 

Total

$

2,901,595