GOODWILL AND OTHER INTANGIBLE ASSETS

9 Months Ended

Sep. 30, 2016

Goodwill and Intangible Assets Disclosure [Abstract]

Changes in the carrying amount of goodwill for the nine-month period ended September 30, 2016 were as follows:



	Specialty Surgical Solutions		Orthopedics and Tissue Technologies			Total
	(In thousands)
Goodwill at December 31, 2015	$	284,976	$	227,413		$	512,389
TEI working capital and purchase price adjustment	—		(174		)	(174		)
Foreign currency translation and other	2,203		1,218			3,421
Balance, September 30, 2016	$	287,179	$	228,457		$	515,636

The components of the Company’s identifiable intangible assets were as follows:



	September 30, 2016
	Weighted Average Life	Cost		Accumulated Amortization			Net
	(Dollars in thousands)
Completed technology	17 years	$	480,614	$	(88,567	)	$	392,047
Customer relationships	12 years	154,222		(75,708		)	78,514
Trademarks/brand names	30 years	91,400		(18,704		)	72,696
Supplier relationships	27 years	34,721		(13,307		)	21,414
All other⁽¹⁾	5 years	11,134		(2,118		)	9,016
		$	772,091	$	(198,404	)	$	573,687



	December 31, 2015
	Weighted Average Life	Cost		Accumulated Amortization			Net
	(Dollars in thousands)
Completed technology	17 years	$	480,684	$	(67,978	)	$	412,706
Customer relationships	12 years	153,246		(68,811		)	84,435
Trademarks/brand names	30 years	90,837		(16,374		)	74,463
Supplier relationships	27 years	34,721		(12,236		)	22,485
All other⁽¹⁾	5 years	10,958		(1,307		)	9,651
		$	770,446	$	(166,706	)	$	603,740


⁽¹⁾	At September 30, 2016 and December 31, 2015, all other included in-process research and development ("IPR&D") of $1.0 million in both periods, which was indefinite-lived.

Based on quarter-end exchange rates, annual amortization expense (including amounts reported in cost of product revenues, but excluding any possible future amortization associated with acquired in-process research and development) is expected to be approximately $41.5 million in 2016, $40.9 million in 2017, $40.4 million in 2018, $40.4 million in 2019 and $40.2 million in 2020. Identifiable intangible assets are initially recorded at fair market value at the time of acquisition using an income or cost approach.

- Definition

The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss.

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