GOODWILL AND OTHER INTANGIBLE ASSETS, NET

6 Months Ended

Jun. 30, 2017

GOODWILL AND OTHER INTANGIBLE ASSETS, NET

GOODWILL AND OTHER INTANGIBLE ASSETS, NET.

6.GOODWILL AND OTHER INTANGIBLE ASSETS, NET

Goodwill

The table below provides a roll-forward of the Company’s goodwill balances:


Goodwill balance at December 31, 2016	$	76,694
Impact of foreign exchange		2,508
Goodwill balance at June 30, 2017	$	79,202

Other Intangible Assets, Net

Other intangible assets, net consisted of the following at:


	June 30, 2017
							Weighted
	Gross Carrying		Accumulated		Net Carrying		Average
	Amount		Amortization		Amount		Life
							(in years)
Toprol-XL	$	224,600	$	(14,973)	$	209,627	10
Zontivity		40,800		(3,187)		37,613	11
Tribute Merger and other		89,790		(11,671)		78,119	11
Acquired technology rights	$	355,190	$	(29,831)	$	325,359

The gross carrying amount of acquired technology rights increased by $2.5 million from December 31, 2016 due to the impact of foreign currency translation adjustments between the Canadian and U.S. dollars. Amortization expense was $8.5 million and $17.0 million for the three and six months ended June 30, 2017, respectively. Amortization expense was $2.1 million and $3.4 million for the three and six months ended June 30, 2016, respectively.

The estimated aggregate amortization of intangible assets as of June 30, 2017, for each of the five succeeding years and thereafter is as follows:


	Estimated
	Amortization
For the Years Ending December 31,	Expense

Remainder of 2017	$	17,154
2018		34,307
2019		34,307
2020		34,307
2021		34,307
Thereafter		170,977
Total amortization expense	$	325,359

- Definition

The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss.

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