INTANGIBLE ASSETS

3 Months Ended

Mar. 31, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets Disclosure [Text Block]

The Company’s intangible assets are reflected in the table below (in thousands, except weighted average lives):

	Finite-lived						Indefinite-lived
	Technology, trade secrets and know-how		Customer lists and contracts		Other identifiable intangible assets		IP R&D		Total
2019
Balance as of December 31, 2018	$	98,469	$	23,819	$	10,655	$	24,013	$	156,956
Flow cytometry acquisition	(116)		(428)		1,154		(4,016)		(3,406)
Balance as of December 31, 2019	98,353		23,391		11,809		19,997		153,550
Less: accumulated amortization:
Accumulated amortization balance as of December 31, 2018	(40,501)		(9,036)		(2,271)		—		(51,808)
Amortization expense	(7,784)		(2,428)		(1,194)		—		(11,406)
Accumulated amortization balance as of December 31, 2019	(48,285)		(11,464)		(3,465)		—		(63,214)
Net balance as of December 31, 2019	$	50,068	$	11,927	$	8,344	$	19,997	$	90,336
Weighted average life (in years)	11		10		10
2020
Balance as of March 31, 2020	98,353		23,391		11,809		19,997		$	153,550
Less: accumulated amortization:
Accumulated amortization balance as of December 31, 2019	(48,285)		(11,464)		(3,465)		—		(63,214)
Amortization expense	(1,946)		(606)		(299)		—		(2,851)
Accumulated amortization balance as of March 31, 2020	(50,231)		(12,070)		(3,764)		—		(66,065)
Net balance as of March 31, 2020	$	48,122	$	11,321	$	8,045	$	19,997	$	87,485
Weighted average life (in years)	11		10		10

The Company currently has three IP R&D projects. The first relates to the development of the next generation VERIGENE^® System, VERIGENE II, on which the Company began clinical trials in May 2018. The Company believes the VERIGENE II System will launch commercially in 2020. The second is a defensive IP R&D project related to the Company’s next generation xMAP^® System, xMAP INTELLIFLEX, which the Company also believes will launch commercially in 2020. The third relates to the development of the next generation Guava System (Guava Next Gen System), acquired as part of the Company’s acquisition of EMD Millipore Corporation’s flow cytometry portfolio. The fair value of the Guava Next Gen System IP R&D project was determined using the income approach. The discount rate applied to the projected cash flows was 13.0%, which reflects the engineering and technical risks related to the projects. The Company believes the Guava Next Gen System will also launch commercially in 2020.

The estimated aggregate amortization expense for the next five fiscal years and thereafter is as follows (in thousands):

2020 (nine months)	$	8,555
2021	11,048
2022	9,801
2023	9,452
2024	9,452
Thereafter	19,179
	$	67,487