XML 34 R14.htm IDEA: XBRL DOCUMENT v3.22.4
Goodwill and Other Intangible Assets
 12 Months Ended
Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Other Intangible Assets Goodwill and Other Intangible Assets
Indefinite Lived Intangible Assets
As of December 31, 2022 and 2021 the carrying values of our indefinite lived intangible assets were as follows (in thousands):
20222021
Goodwill$243,631 $250,000 
In-process R&D2,080 2,208 
Procurement contracts and agreements2,013 2,013 
Trademarks— 66 
We monitor the phases of development of our acquired in-process research and development projects, including the risks associated with further development and the amount and timing of benefits expected to be derived from the completed projects. Incremental costs associated with development are charged to expense as incurred. Capitalized costs are amortized over the estimated useful life of the developed asset once completed. Our in-process research and development projects are reviewed for impairment annually, or more frequently, if events or changes in circumstances indicate that the asset might be impaired. We evaluate our goodwill and indefinite lived intangible assets for impairment on an annual basis during the fourth quarter of the year, and, if necessary, during interim periods if factors indicate that an impairment review is warranted. We did not record any impairment of indefinite lived intangible assets, including goodwill, during the twelve months ended December 31, 2022, 2021, and 2020. In-process research and development, procurement contracts and agreements are included in Other intangibles, net on the Consolidated Balance Sheets as of December 31, 2022 and 2021.
Based on our experience with similar agreements, we believe that our acquired procurement contracts and agreements have indefinite useful lives, as we expect to continue to renew these contracts for the foreseeable future.
As of December 31, 2022 and 2021 the value of our goodwill, all of which was related to our Medical Devices segment, was as follows (in thousands):
Medical Devices Segment
20222021
Balance as of January 1, $250,000 $260,061 
Ascyrus acquisition — (942)
Foreign currency translation(6,369)(9,119)
Balance as of December 31, $243,631 $250,000 
Definite Lived Intangible Assets
The definite lived intangible assets balance includes balances related to acquired technology, customer relationships, distribution and manufacturing rights and know-how, patents, and other definite lived intangible assets. As of December 31, 2022 and 2021 the gross carrying values, accumulated amortization, and approximate amortization period of our definite lived intangible assets were as follows (in thousands, except weighted average useful life):
December 31, 2022Gross Carrying
Value		Accumulated
Amortization		Net Carrying
Value 		Weighted Average
Useful Life
(Years)
Acquired technology$198,420 $47,157 $151,263 18.2
Other intangibles:
Customer lists and relationships31,030 11,100 19,930 20.5
Distribution and manufacturing rights and know-how9,274 5,796 3,478 5.0
Patents4,246 3,180 1,066 17.0
Other5,360 2,543 2,817 4.4
Total other intangibles$49,910 $22,619 $27,291 10.3
December 31, 2021Gross Carrying
Value		Accumulated
Amortization		Net Carrying
Value		Weighted Average
Useful Life
(Years)
Acquired technology$213,626 $46,632 $166,994 17.7
Other intangibles:
Customer lists and relationships31,148 9,618 21,530 20.5
Distribution and manufacturing rights and know-how9,847 4,308 5,539 5.0
Patents4,083 3,144 939 17.0
Other3,969 1,762 2,207 4.4
Total other intangibles$49,047 $18,832 $30,215 10.6
Amortization Expense
Amortization expense recorded in General, administrative, and marketing expenses on our Consolidated Statements of Operations and Comprehensive Loss for the years ended December 31 was as follows (in thousands):
202220212020
Amortization expense$15,310 $16,820 $13,764 
As of December 31, 2022 scheduled amortization of intangible assets for the next five years is as follows (in thousands):
20232024202520262027Total
Amortization expense$14,935 $14,577 $12,680 $12,458 $12,360 $67,010