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Intangible Assets and Goodwill

12 Months Ended

Dec. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Note 9. Intangible Assets and Goodwill

Intangible Assets, Net

The components of intangible assets were as follows (in thousands, except for useful life):


		Balance at December 31, 2023						Balance at December 31, 2022
	Weighted- Average Useful Lives (Years)	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Finite-lived intangible assets:
Licensed IP	12.5	$	271,000	$	163,318	$	107,682	$	271,000	$	141,781	$	129,219
Capitalized milestone payments	13.3	$	17,000	$	1,137	$	15,863	$	—	$	—	$	—

Amortization expense was $22.5 million for the year ended December 31, 2023, and amortization expense was $21.5 million for the years ended December 31, 2022 and 2021 and is recorded in cost of product revenues on the consolidated statement of operations. Estimated aggregate amortization expense based on the current carrying value of amortizable intangible assets will be as follows for the years ending December 31 (in thousands):


	2024		2025		2026		2027		2028		Thereafter
Amortization expense	$	22,817	$	22,817	$	22,817	$	22,817	$	22,817	$	9,460

Goodwill

There were no changes to the carrying amount of goodwill for the years ended December 31, 2023 and 2022.