XML 89 R20.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2
Goodwill and Intangible Assets, Net
12 Months Ended
Dec. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Intangible Assets, Net Goodwill and Intangible Assets, Net
The changes in the carrying amount of goodwill for the years ended December 31, 2019 and 2018, are as follows:
 
2019
 
2018
Beginning of year
$
93,627

 
$
93,751

Impairment
(29,820
)
 

Foreign currency translation adjustments
(53
)
 
(124
)
End of year
$
63,754

 
$
93,627


The Company had $43,643 and $13,823 of cumulative impairment losses as of December 31, 2019 and 2018, respectively.
For the year ended December 31, 2019, the Company recorded $29,820 of goodwill impairment charges. During the Company's annual goodwill impairment test, the Company determined it was more-likely-than-not that the fair value of the Trans Ova reporting unit was less than its carrying amount. As a result, the Company compared the carrying amount of the Trans Ova reporting unit to the fair value and determined the carrying amount exceeded the fair value resulting in a $29,642 goodwill impairment charge for the excess carrying value. Additionally, the Company recorded $178 of goodwill impairment charges in conjunction with the closing of two of its reporting units in the third quarter of 2019.
See Note 20 for information regarding goodwill by reportable segment.
Intangible assets consist of the following as of December 31, 2019: 
 
Weighted Average Useful Life (Years)
 
Gross Carrying Amount
 
Accumulated Amortization
 
Net
Patents, developed technologies and know-how
15.8
 
$
90,659

 
$
(26,619
)
 
$
64,040

Customer relationships
6.5
 
10,700

 
(8,440
)
 
2,260

Trademarks
8.4
 
5,900

 
(3,854
)
 
2,046

Total
 
 
$
107,259

 
$
(38,913
)
 
$
68,346


Intangible assets consist of the following as of December 31, 2018: 
 
Gross Carrying Amount
 
Accumulated Amortization
 
Net
Patents, developed technologies and know-how
$
106,042

 
$
(23,674
)
 
$
82,368

Customer relationships
10,700

 
(7,565
)
 
3,135

Trademarks
6,800

 
(3,341
)
 
3,459

Total
$
123,542

 
$
(34,580
)
 
$
88,962


In the fourth quarter of 2018, the Company recorded a $16,027 loss related to the abandonment of certain developed technologies that the Company ceased using in the fourth quarter of 2018. The Company does not expect to use these technologies as a defensive asset or market them for sale in the future. Because these technologies were used in combination with other technologies, the identifiable cash flows did not result in an impairment; however, because the Company made a decision to abandon the assets, it recorded the charge to research and development expense.
The deconsolidation of AquaBounty (Note 1) in April 2019 resulted in the reduction of $11,567 of net intangible assets, primarily related to patents, developed technologies, and know-how, on the accompanying consolidated balance sheet during the year ended December 31, 2019.
Amortization expense was $7,920, $11,666 and $11,472 for the years ended December 31, 2019, 2018 and 2017, respectively. Estimated aggregate amortization expense for definite lived intangible assets is expected to be as follows:
2020
$
7,501

2021
7,313

2022
6,518

2023
5,350

2024
5,066

Thereafter
36,598

Total
$
68,346