XML 52 R19.htm IDEA: XBRL DOCUMENT v3.25.0.1
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
Intangible Assets
“Other intangible assets, net” consisted of the following:
As of December 31, 2024
As of December 31, 2023
Estimated Useful lives
Gross Carrying Amount
Accumulated Amortization
Net Carrying Amount
Gross Carrying Amount
Accumulated Amortization
Net Carrying Amount
(in millions, except useful lives)
In-process research and developmentIndefinite$603.6 $— $603.6 $603.6 $— $603.6 
Finite-lived intangible assets - marketed products
10 to 12 yrs.
238.0 (21.9)216.1 238.0 (1.7)236.3 
Finite-lived intangible assets - assembled workforce
 3 yrs.
7.7 (1.5)6.2 — — $— 
Total other intangible assets, net$849.3 $(23.4)$825.9 $841.6 $(1.7)$839.9 
In 2023, we recorded a total of $238.0 million of finite-lived intangible assets following the regulatory approval of CASGEVY in several markets, which we are amortizing on a straight-line basis over the longer of the last underlying patents to expire or the period that we have exclusive rights to market CASGEVY. We recorded intangible asset amortization expense of $20.2 million and $1.7 million to “Cost of sales” related to these assets in in 2024 and 2023, respectively.
As of December 31, 2024, the estimated future amortization of our finite-lived intangible assets was as follows:
Year
Estimated Amortization Expense
(in millions)
2025$22.7 
2026$22.7 
2027$21.3 
2028$20.2 
2029$20.2 
In 2022, we recorded a $13.0 million impairment of an in-process research and development intangible asset to “Research and development expenses” due to a decision to revise the scope of certain acquired gene-editing programs.
Goodwill
As of December 31, 2024 and 2023, we had goodwill of $1.1 billion on our consolidated balance sheets.