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Goodwill and Other Intangible Assets
 12 Months Ended
Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Other Intangible Assets Goodwill and Other Intangible Assets
Indefinite Lived Intangible Assets
The carrying values of our indefinite lived intangible assets were as follows (in thousands):
December 31,
20242023
Goodwill$240,958 $247,337 
In-process R&D$2,026 $2,154 
Procurement contracts and agreements$2,013 $2,013 
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 years ended December 31, 2024, 2023 and 2022. In-process research and development, procurement contracts and agreements are included in Other intangibles, net in the Consolidated Balance Sheets as of December 31, 2024 and 2023.
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.
Changes in the carrying value of our goodwill, all of which was related to our Medical Devices segment, was as follows (in thousands):
Year Ended December 31,
20242023
Balance as of January 1, $247,337 $243,631 
Foreign currency translation(6,379)3,706 
Balance as of December 31, $240,958 $247,337 
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. The major intangible asset classes consist of the following (in thousands, except weighted average useful life):
December 31, 2024Gross Carrying
Value		Accumulated
Amortization		Net Carrying
Value 		Weighted Average
Useful Life
(Years)
Acquired technology$195,912 $67,861 $128,051 18.3
Other intangibles:
Customer lists and relationships$28,611 $11,617 $16,994 21.6
Distribution and manufacturing rights and know-how9,033 9,033 — 5.0
Patents4,428 3,460 968 17.0
Other11,776 5,445 6,331 5.0
Other intangibles, net$53,848 $29,555 $24,293 9.4
December 31, 2023Gross Carrying
Value		Accumulated
Amortization		Net Carrying
Value		Weighted Average
Useful Life
(Years)
Acquired technology$201,897 $59,304 $142,593 18.2
Other intangibles:
Customer lists and relationships$28,729 $10,334 $18,395 21.6
Distribution and manufacturing rights and know-how9,608 7,807 1,801 5.0
Patents4,365 3,225 1,140 17.0
Other7,815 3,680 4,135 5.0
Other intangibles, net$50,517 $25,046 $25,471 10.0
Amortization Expense
Amortization expense recorded in General, administrative, and marketing expenses in our Consolidated Statements of Operations and Comprehensive Loss was as follows (in thousands):
Year Ended December 31,
202420232022
Amortization expense$15,855 $15,198 $15,310 
The estimated future amortization expense of intangible assets with definite lives as of December 31, 2024 for the next five years is as follows (in thousands):
20252026202720282029Total
Amortization expense$13,190 $12,833 $12,730 $12,542 $12,342 $63,637