Goodwill and Other Intangible Assets, Net

9 Months Ended

Sep. 30, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Other Intangible Assets, Net

Goodwill and Other Intangible Assets, Net

The carrying amount of goodwill was $51.7 million at both September 30, 2023 and December 31, 2022.

The gross carrying amount, accumulated amortization and net book value of intangible assets at the end of each period were as follows:

	September 30, 2023						December 31, 2022
(in millions)	Gross Carrying Amount		Accumulated Amortization		Net Book Value		Gross Carrying Amount		Accumulated Amortization		Net Book Value
Customer relationships	$	43.2	$	(30.0)	$	13.2	$	43.2	$	(27.5)	$	15.7
Internal-use software	41.3		(13.5)		27.8		34.8		(12.0)		22.8
Developed technology	27.4		(2.5)		24.9		27.4		(1.0)		26.4
Patents	36.2		(2.6)		33.6		11.0		(0.4)		10.6
Total intangible assets	$	148.1	$	(48.6)	$	99.5	$	116.4	$	(40.9)	$	75.5

Amortization expense for intangible assets was $2.6 million and $1.9 million for the three months ended September 30, 2023 and 2022, respectively, and was $7.7 million and $5.4 million for the nine months ended September 30, 2023 and 2022, respectively.

In February 2023, the Company paid Bigfoot Biomedical, Inc. $25.1 million, including transaction costs, to acquire patent assets related to pump-based automated insulin delivery technologies. The acquired patent assets have a useful life of 11 years.