Goodwill and Intangible Assets

3 Months Ended

Mar. 31, 2025

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets

6.   Goodwill and Intangible Assets. The change in the carrying amount of goodwill by segment for the three-month period ended March 31, 2025 is detailed as follows (in thousands):

	2025
	Cardiovascular		Endoscopy		Total
Goodwill balance at January 1	$	446,514	$	16,997	$	463,511
Effect of foreign exchange		849		—		849
Goodwill balance at March 31	$	447,363	$	16,997	$	464,360

Total accumulated goodwill impairment losses aggregated to $8.3 million as of March 31, 2025 and December 31, 2024, respectively. We did not have any goodwill impairments for the three-month periods ended March 31, 2025 or 2024.

Other intangible assets at March 31, 2025 and December 31, 2024 consisted of the following (in thousands):

	March 31, 2025
	Gross Carrying		Accumulated		Net Carrying
	Amount		Amortization		Amount
Patents	$	32,163	$	(13,278)	$	18,885
Distribution agreements		3,250		(3,013)		237
License agreements		11,580		(9,330)		2,250
Trademarks		47,627		(25,170)		22,457
Customer lists		57,994		(37,195)		20,799
Total	$	152,614	$	(87,986)	$	64,628

	December 31, 2024
	Gross Carrying		Accumulated		Net Carrying
	Amount		Amortization		Amount
Patents	$	31,489	$	(12,824)	$	18,665
Distribution agreements		3,250		(2,994)		256
License agreements		11,557		(9,125)		2,432
Trademarks		47,613		(24,177)		23,436
Customer lists		57,933		(36,223)		21,710
Total	$	151,842	$	(85,343)	$	66,499

Aggregate amortization expense for developed technology and other intangible assets for the three-month periods ended March 31, 2025 and 2024 was $20.0 million and $14.6 million, respectively.

We evaluate long-lived assets, including amortizing intangible assets, for impairment whenever events or changes in circumstances indicate that their carrying amounts may not be recoverable. We perform the impairment analysis at the asset group for which the lowest level of identifiable cash flows is largely independent of the cash flows of other assets and liabilities. If a triggering event is identified, we determine the fair value of our amortizing assets based on estimated future cash flows discounted back to their present value using a discount rate that reflects the risk profiles of the underlying activities. We did not identify indicators of impairment for our intangible assets based on our consideration of triggering events for the three-month periods ended March 31, 2025 and 2024, respectively.

Estimated amortization expense for developed technology and other intangible assets for the next five years consisted of the following as of March 31, 2025 (in thousands):

Year ending December 31,	Estimated Amortization Expense
Remaining 2025	$	62,428
2026		72,797
2027		69,127
2028		67,728
2029		56,158