INTANGIBLE ASSETS AND GOODWILL (Tables)

12 Months Ended

Dec. 31, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of net-book value and estimated remaining life and finite lived intangible assets

The following table summarizes the net-book-value and estimated remaining life of the Company's intangible assets as of December 31, 2022:

(In thousands)	Weighted Average Remaining Life (Years)	Cost		Accumulated Amortization		Net Balance at December 31, 2022
Finite-lived intangible assets
Trade name	12.5	$	104,000	$	(20,653)	$	83,347
Customer relationships	8.0	4,000		(444)		3,556
Patents and licenses	4.2	11,542		(8,152)		3,390
Acquired developed technology (1)	7.8	861,474		(245,527)		615,948
Total finite-lived intangible assets		981,016		(274,776)		706,240
In-process research and development	n/a	1,250,000		—		1,250,000
Total intangible assets		$	2,231,016	$	(274,776)	$	1,956,240

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(1)The gross carrying amount includes an immaterial foreign currency translation adjustment related to the intangible assets acquired as a result of the acquisition of OmicEra Diagnostics GmbH (“OmicEra”), whose functional currency is also its local currency. Intangible asset balances are translated into U.S. dollars using exchange rates in effect at period end, and adjustments related to foreign currency translation are included in other comprehensive income.

The following table summarizes the net-book-value and estimated remaining life of the Company’s intangible assets as of December 31, 2021:

(In thousands)	Weighted Average Remaining Life (Years)	Cost		Accumulated Amortization		Net Balance at December 31, 2021
Finite-lived intangible assets
Trade name	13.4	$	104,700	$	(13,554)	$	91,146
Customer relationships	9.6	6,700		(1,577)		5,123
Patents and licenses	3.6	10,942		(6,763)		4,179
Supply agreement	5.4	2,295		(101)		2,194
Acquired developed technology	8.6	918,171		(176,402)		741,769
Total finite-lived intangible assets		1,042,808		(198,397)		844,411
In-process research and development	n/a	1,250,000		—		1,250,000
Total intangible assets		$	2,292,808	$	(198,397)	$	2,094,411

Schedule of estimated future amortization expense, intangible assets

As of December 31, 2022, the estimated future amortization expense associated with the Company’s finite-lived intangible assets for each of the five succeeding fiscal years is as follows:

(In thousands)
2023	$	91,713
2024	91,379
2025	90,331
2026	89,271
2027	89,271
Thereafter	254,275
Total	$	706,240

Schedule of carrying amount of goodwill

The change in the carrying amount of goodwill for the years ended December 31, 2022 and 2021 is as follows:

(In thousands)
Balance, January 1, 2021	$	1,237,672
Thrive Earlier Detection Corporation (“Thrive”) acquisition	948,105
Ashion Analytics, LLC (“Ashion”) acquisition	56,758
PreventionGenetics acquisition	92,637
Balance, December 31, 2021	2,335,172
OmicEra Acquisition	10,809
PreventionGenetics acquisition adjustment	(58)
Effects of changes in foreign currency exchange rates (1)	117
Balance, December 31, 2022	$	2,346,040

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(1)    Represents the impact of foreign currency translation related to the goodwill acquired as a result of the acquisition of OmicEra. Goodwill balances are translated into U.S. dollars using exchange rates in effect at period end, and adjustments related to foreign currency translation are included in other comprehensive income.