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Goodwill and Intangible Assets (Tables)
6 Months Ended
Jun. 30, 2023
Goodwill And Other Intangible Assets Disclosure [Abstract]  
Changes in Carrying Value of Goodwill

The following table represents the change in the carrying value of goodwill for the six months ended June 30, 2023 (amounts in thousands):

 

Balance at December 31, 2022

 

$

855,513

 

Acquisition of FlexBiosys, Inc.

 

 

14,355

 

Cumulative translation adjustment

 

 

820

 

Balance at June 30, 2023

 

$

870,688

 

Schedule of Intangible Assets

Intangible assets, net, consisted of the following at June 30, 2023:

 

 

June 30, 2023

 

 

 

Gross
Carrying
Value

 

 

Accumulated
Amortization

 

 

Net
Carrying
Value

 

 

Weighted
Average
Useful Life
(in years)

 

 

 

(Amounts in thousands)

 

 

 

 

Finite-lived intangible assets:

 

(As Restated)

 

 

(As Restated)

 

 

(As Restated)

 

 

 

 

Technology - developed

 

$

207,410

 

 

$

(37,289

)

 

$

170,121

 

 

 

16

 

Patents

 

 

240

 

 

 

(240

)

 

 

 

 

 

8

 

Customer relationships

 

 

255,546

 

 

 

(74,896

)

 

 

180,650

 

 

 

16

 

Trademarks

 

 

7,717

 

 

 

(1,544

)

 

 

6,173

 

 

 

19

 

Other intangibles

 

 

3,039

 

 

 

(2,273

)

 

 

766

 

 

 

4

 

Total finite-lived intangible assets

 

 

473,952

 

 

 

(116,242

)

 

 

357,710

 

 

 

16

 

Indefinite-lived intangible asset:

 

 

 

 

 

 

 

 

 

 

 

 

Trademarks

 

 

700

 

 

 

 

 

 

700

 

 

 

 

Total intangible assets

 

$

474,652

 

 

$

(116,242

)

 

$

358,410

 

 

 

 

 

Intangible assets, net, consisted of the following at December 31, 2022:

 

 

 

December 31, 2022

 

 

 

Gross
Carrying
Value

 

 

Accumulated
Amortization

 

 

Net
Carrying
Value

 

 

Weighted
Average
Useful Life
(in years)

 

 

 

(Amounts in thousands)

 

 

 

 

Finite-lived intangible assets:

 

(As Revised)

 

 

 

 

 

(As Revised)

 

 

 

 

Technology - developed

 

$

197,405

 

 

$

(30,992

)

 

$

166,413

 

 

 

16

 

Patents

 

 

240

 

 

 

(240

)

 

 

 

 

 

8

 

Customer relationships

 

 

252,934

 

 

 

(66,559

)

 

 

186,375

 

 

 

15

 

Trademarks

 

 

7,682

 

 

 

(1,319

)

 

 

6,363

 

 

 

19

 

Other intangibles

 

 

2,811

 

 

 

(2,044

)

 

 

767

 

 

 

4

 

Total finite-lived intangible assets

 

 

461,072

 

 

 

(101,154

)

 

 

359,918

 

 

 

16

 

Indefinite-lived intangible asset:

 

 

 

 

 

 

 

 

 

 

 

 

Trademarks

 

 

700

 

 

 

 

 

 

700

 

 

 

 

Total intangible assets

 

$

461,772

 

 

$

(101,154

)

 

$

360,618

 

 

 

 

Schedule of Amortization Expense for Amortized Intangible Assets As of June 30, 2023, the Company expects to record the following amortization expense in future periods (amounts in thousands):

 

 

 

Estimated

 

 

 

Amortization

 

 

 

Expense

 

For the Years Ended December 31,

 

(As Restated)

 

2023 (remaining six months)

 

$

15,266

 

2024

 

 

30,070

 

2025

 

 

29,840

 

2026

 

 

29,666

 

2027

 

 

29,632

 

2028 and thereafter

 

 

223,236

 

Total

 

$

357,710