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Goodwill and Intangible Assets
 12 Months Ended
Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Intangible Assets Goodwill and Intangible Assets
The following table presents the changes in the carrying amount of goodwill. Goodwill is included in other assets in our consolidated balance sheets.
(in millions)Amount
Balance as of December 31, 2021$— 
Goodwill recognized in connection with business combination5.2 
Foreign currency translation adjustments0.2 
Balance as of December 31, 20225.4 
Foreign currency translation adjustments0.4 
Balance as of December 31, 2023$5.8 
The following table presents information relating to our recognized intangible assets as of December 31, 2023.
(dollars in millions)Useful LifeGross Carrying AmountAccumulated AmortizationNet
Carrying Amount
Developed product rights10 years$35.9 $4.0 $31.9 
Acquired IPR&DIndefinite$3.6 $— 3.6 
Total intangible assets, net$35.5 
The following table presents approximate future annual amortization expense for our finite-lived intangible assets as of December 31, 2023.
(in millions)Amount
Year ending December 31, 2024
$3.6 
Year ending December 31, 2025
$3.6 
Year ending December 31, 2026
$3.6 
Year ending December 31, 2027
$3.6 
Year ending December 31, 2028
$3.6 
Thereafter$13.9