Goodwill, Intangible Assets and Impairment Charges

12 Months Ended

Dec. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill, Intangible Assets and Impairment Charges

6. Goodwill, Intangible Assets and Impairment Charges

Goodwill

The following table summarizes changes in goodwill during the year ended December 31, 2023 (in thousands):

	Amount
Balance at beginning of year	$	478,897
Effect of foreign exchange rate changes		5,610
Balance at end of year	$	484,507

Goodwill by reportable segment as of December 31, 2023 was as follows (in thousands):

	Reportable Segment
	Precision Medicine and Manufacturing			Medical Solutions			Robotics and Automation			Total
Goodwill	$	211,380		$	169,738		$	254,618		$	635,736
Accumulated impairment of goodwill		(102,461	)		(31,722	)		(17,046	)		(151,229	)
Total	$	108,919		$	138,016		$	237,572		$	484,507

Goodwill by reportable segment as of December 31, 2022 was as follows (in thousands):

	Reportable Segment
	Precision Medicine and Manufacturing			Medical Solutions			Robotics and Automation			Total
Goodwill	$	208,387		$	167,891		$	253,848		$	630,126
Accumulated impairment of goodwill		(102,461	)		(31,722	)		(17,046	)		(151,229	)
Total	$	105,926		$	136,169		$	236,802		$	478,897

Intangible Assets

Intangible assets as of December 31, 2023 and 2022, respectively, are summarized as follows (dollar amounts in thousands):

	December 31, 2023
	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount		Weighted Average Remaining Life (Years)
Amortizable intangible assets:
Patents and developed technologies	$	187,092	$	(146,342	)	$	40,750		9.6
Customer relationships		225,183		(142,478	)		82,705		14.4
Trademarks and trade names		23,628		(15,088	)		8,540		9.5
Amortizable intangible assets		435,903		(303,908	)		131,995		12.6
Non-amortizable intangible assets:
Trade names		13,027		—			13,027
Total	$	448,930	$	(303,908	)	$	145,022

	December 31, 2022
	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount		Weighted Average Remaining Life (Years)
Amortizable intangible assets:
Patents and developed technologies	$	184,589	$	(132,350	)	$	52,239		10.1
Customer relationships		222,173		(121,527	)		100,646		15.0
Trademarks and trade names		23,311		(13,457	)		9,854		10.0
Amortizable intangible assets		430,073		(267,334	)		162,739		13.2
Non-amortizable intangible assets:
Trade names		13,027		—			13,027
Total	$	443,100	$	(267,334	)	$	175,766

All definite-lived intangible assets are amortized either on a straight-line basis or an economic benefit basis over their remaining estimated useful life. Amortization expense for patents and developed technologies is included in cost of revenue in the accompanying consolidated statements of operations. Amortization expense for customer relationships and definite-lived trademarks, trade names and other intangibles is included in operating expenses in the accompanying consolidated statements of operations. Amortization expense was as follows (in thousands):

	Year Ended December 31,
	2023		2022		2021
Amortization expense – cost of revenue	$	12,150	$	13,270	$	13,288
Amortization expense – operating expenses		20,445		26,338		16,577
Total amortization expense	$	32,595	$	39,608	$	29,865

Estimated future amortization expense for each of the five succeeding years and thereafter is as follows (in thousands):

Year Ending December 31,	Cost of Revenue		Operating Expenses		Total
2024	$	9,961	$	17,297	$	27,258
2025		8,428		14,632		23,060
2026		7,035		12,452		19,487
2027		4,266		10,041		14,307
2028		3,388		8,310		11,698
Thereafter		7,672		28,513		36,185
Total	$	40,750	$	91,245	$	131,995

Impairment Charges

The Company did not have any goodwill or indefinite-lived intangible asset impairment charges during 2023, 2022, or 2021.