An asset that has a significant value but no physical presence and offers a business long-term financial value is referred to as an "intangible asset". Identifiable intangible assets are those that may be independently marketed by the company, are distinguishable from other assets, and can be identified. Intellectual property, such as patents, trademarks, and copyrights, as well as non-cash government grants, like airport landing rights or broadcasting licenses, are examples of identifiable intangible assets. A trademark is a sign that can be used to distinguish one company's goods or services from those of other businesses. For trademarks, intellectual property rights offer protection. When purchased separately, intangible assets are capitalized at fair value as of the date of acquisition rather than cost.
As per the company's assessment of the fair value of identified intangible assets, developed software and core technologies and trade names accounted for $985.7 million and $182.6 million, respectively. In FY2021, the company's net value of intangible assets was $763.1 million. ANSYS’s gross intangible assets surged from $1,035.2 million in FY2020 to $1,168.2 million in FY2021, an increase of 12.8%. The company's amortization expense for intangible assets was $76.0 million in FY2021.
The company's amortization expense for intangible assets was $57.2 million and $36.9 million in FY2020 and 2019 respectively. ANSYS intends to expand the range, ease of use, and quality of the technologies, features, functionality, and integrated multiphysics capabilities of its software products.
ANSYS Inc (Ansys) is a provider of engineering simulation software and services. The company develops and markets open and flexible solutions to provide a common platform for product development from design concepts to final stage testing and validation. Its product portfolio comprises ANSYS Workbench, high-performance computing, electromagnetics, semiconductors, embedded software systems, 3D design, and academics. Ansys serves aerospace and defense, automotive, military, electronics, semiconductors, energy, materials and chemical processing, turbomachinery, consumer products, healthcare, and sports industries. It distributes products through a global network of independent resellers and distributors.
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United States of America
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China
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