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Composition of Certain Financial Statement Captions
 12 Months Ended
Dec. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Composition of Certain Financial Statement Captions Composition of Certain Financial Statement Captions
For the years ended December 31,
(In thousands)20212020
Accounts receivable, net
Accounts receivable$261,476 $288,369 
Less: allowance for doubtful accounts(1,839)(2,055)
$259,637 $286,314 
Inventories, net
Consumable supplies$39,447 $86,779 
Finished products44,107 36,831 
Work in-process1,615 5,268 
Raw materials6,112 5,784 
Less: inventory reserve(4,779)(2,321)
$86,502 $132,341 
Other current assets and prepaid expenses
Prepaid supplies$10,641 $7,259 
Prepaid insurance4,383 3,803 
Taxes recoverable5,598 13,440 
Other receivables353 2,502 
Other6,195 5,309 
$27,170 $32,313 
Property, plant and equipment, net:
Machinery, medical and other equipment$127,633 $193,152 
Leasehold improvements27,478 40,742 
Furniture and fixtures11,638 13,547 
Automobiles and aircraft12,602 10,537 
Software14,507 14,726 
Building10,661 21,848 
Land2,421 2,602 
Construction in process6,113 8,169 
Less: accumulated depreciation(133,326)(164,769)
$79,727 $140,554 
Intangible assets, net:
Customer relationships$314,823 $448,751 
Technologies246,101 296,623 
Trade names49,770 49,820 
Covenants not to compete12,920 16,334 
Licenses5,766 5,766 
Product registrations6,995 8,025 
Other6,128 6,513 
Less: accumulated amortization(320,820)(356,830)
$321,683 $475,002 
For the years ended December 31,
(In thousands)20212020
Accrued expenses:
Inventory received but not invoiced$40,446 $72,160 
Employee benefits45,939 43,300 
Commitments and contingencies27,819 15,454 
Clinical trials4,867 7,112 
Finance leases short-term2,257 2,453 
Professional fees2,121 4,985 
Contingent consideration487 1,188 
Contract liabilities258 15,783 
Other69,299 78,434 
$193,493 $240,869 
Other long-term liabilities:
Finance leases long-term$2,924 $2,805 
Contingent consideration2,350 4,507 
Mortgages and other debts payable2,224 3,837 
Contract liabilities208 595 
Other7,356 25,328 
$15,062 $37,072 
Our intangible assets and goodwill relate principally to our completed acquisitions of OPKO Renal, OPKO Biologics, EirGen and BioReference. We amortize intangible assets with definite lives on a straight-line basis over their estimated useful lives. The estimated useful lives by asset class are as follows: technologies - 7-17 years, customer relationships - 7-20 years, product registrations - 7-10 years, covenants not to compete - 5 years, trade names - 5-10 years, other 9-13 years. We do not anticipate capitalizing the cost of product registration renewals, rather we expect to expense these costs, as incurred. Our goodwill is not tax deductible for income tax purposes in any jurisdiction in which we operate.
As of December 31, 2021, GeneDx met the held-for-sale accounting criteria and the related assets and liabilities are recognized at the lower of carrying value or fair value less costs to sell in the consolidated balance sheet. In addition, at December 31, 2021, Assets held for sale includes $151.8 million of goodwill related to GeneDx. The changes in value of the intangible assets and goodwill during the year ended December 31, 2020, are primarily due to foreign currency fluctuations between the Chilean Peso, the Euro and the Shekel against the U.S. dollar. The changes in value of the intangible assets and goodwill during the year ended December 31, 2019 are primarily due to an impairment charge of $44.8 million to write our IPR&D assets for OPK88003 and CURNA’s platform technology for oligonucleotide therapeutics down to their estimated fair value, a goodwill impairment charge of $26.2 million to write the carrying amount of the OPKO Diagnostics, CURNA and Transition Therapeutics reporting units down to their estimated fair value, and an impairment charge of $20.7 million to write our intangible asset for the Claros Analyzer down to its estimated fair value.
The following table reflects the changes in the allowance for doubtful accounts, provision for inventory reserve and tax valuation allowance accounts:
(In thousands)Beginning
balance		Charged
to
expense		Written-offCharged
to other		Ending
balance
2021
Allowance for doubtful accounts$(2,055)(369)585 — $(1,839)
Inventory reserve$(2,321)(6,461)4,003 — $(4,779)
Tax valuation allowance$(303,326)34,496 — 8,433 $(260,397)
2020
Allowance for doubtful accounts$(1,934)(232)111 — $(2,055)
Inventory reserve$(2,537)(4,387)4,603 — $(2,321)
Tax valuation allowance$(193,256)(110,070)— — $(303,326)
The following table summarizes the changes in Goodwill by reporting unit during the years ended December 31, 2021 and 2020.
20212020
(In thousands)Gross goodwill at January 1Cumulative impairment at January 1Goodwill impairmentForeign exchange and otherBalance at December 31stGross goodwill at January 1Cumulative impairment at January 1Goodwill impairmentForeign exchange and otherBalance at December 31st
Pharmaceuticals
CURNA$4,827 $(4,827)$— $— $— $4,827 $(4,827)$— $— $— 
Rayaldee93,418 — — (6,865)86,554 85,605 — — 7,813 93,418 
FineTech11,698 (11,698)— — — 11,698 (11,698)— — — 
OPKO Biologics139,784 — — — 139,784 139,784 — — — 139,784 
OPKO Chile4,505 — — (745)3,760 4,348 — — 157 4,505 
OPKO Health Europe8,086 — — (608)7,478 7,394 — — 692 8,086 
OPKO Mexico100 (100)— — — 100 (100)— — — 
Transition Therapeutics3,421 (3,421)— — — 3,421 (3,421)— — — 
Diagnostics
BioReference434,809 — — (151,784)283,025 434,809 — — — 434,809 
OPKO Diagnostics17,977 (17,977)— — — 17,977 (17,977)— — — 
$718,625 $(38,023)$— $(160,002)$520,601 $709,963 $(38,023)$— $8,662 $680,602 
Foreign exchange and other amounts for the year ended December 31, 2021 includes amounts related to GeneDx which is included as Assets held for sale at December 31, 2021.