Company: IRDM
Filing Date: 2025-02-13
Form Type: 10-K
Source: 0001628280-25-005302
Chunk: 131

Company: Iridium Communications Inc.
Filing Date: 2025-02-13
Form: 10-K
Item: Item 8
Chunk 131
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: Trade namesIndefinite$21,195 $— $21,195 Spectrum and licensesIndefinite14,030 — 14,030 Total 35,225 — 35,225 Definite life intangible assets: Intellectual property20 years16,439 (11,420)5,019 Patents14 - 20 years587 (209)378 Customer Relationships12 years57,000 (6,745)50,255 Total 74,026 (18,374)55,652 Total intangible assets $109,251 $(18,374)$90,877  December 31, 2023UsefulLifeGrossCarrying ValueAccumulatedAmortizationNetCarrying Value (In thousands)Indefinite life intangible assets: Trade namesIndefinite$21,195 $— $21,195 Spectrum and licensesIndefinite14,030 — 14,030 Total 35,225 — 35,225 Definite life intangible assets: Intellectual property20 years16,439 (10,987)5,452 Assembled workforce7 years5,678 (5,678)— Patents14 - 20 years587 (169)418 Total 22,704 (16,834)5,870 Total intangible assets $57,929 $(16,834)$41,095 Amortization expense was $7.2 million, $1.5 million and $1.6 million for the years ended December 31, 2024, 2023 and 2022, respectively.The following table presents future amortization expense with respect to intangible assets existing at December 31, 2024, by year and in the aggregate:Year ending December 31,Amount (In thousands)2025$3,948 20268,523 20276,815 20287,252 20295,988 Thereafter23,126 Total estimated future amortization expense$55,652 

70

Goodwill

During the year ended December 31, 2024, the Company acquired Satelles, Inc. (see Note 12), resulting in a goodwill balance of $98.2 million as of December 31, 2024. There was no goodwill balance as of December 31,