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Goodwill and Intangible Assets | 6 Months Ended
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Jun. 30, 2024
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 noncurrent assets in our condensed consolidated balance sheets.
(in millions) | Amount
Balance as of December 31, 2023 | $ | 5.8 |
Foreign currency translation adjustments | (0.1) |
Balance as of June 30, 2024 | $ | 5.7 |
The following table presents information relating to our recognized intangible assets.
|  |  | June 30, 2024 |  | December 31, 2023
(dollars in millions) | Useful Life |  | Gross Carrying Amount |  | Accumulated Amortization |  | Net Carrying Amount |  | Gross Carrying Amount |  | Accumulated Amortization |  | Net Carrying Amount
Developed product rights | 10 years |  | $ | 35.7 |  |  | $ | 5.9 |  |  | $ | 29.8 |  |  | $ | 35.9 |  |  | $ | 4.0 |  |  | $ | 31.9 |
Acquired IPR&D | Indefinite |  | $ | 3.7 |  |  | $ | — |  |  | 3.7 |  |  | $ | 3.6 |  |  | $ | — |  |  | 3.6 |
Total intangible assets, net |  |  |  |  |  |  | $ | 33.5 |  |  |  |  |  |  | $ | 35.5 |
The following table presents approximate future annual amortization expense for our finite-lived intangible assets as of June 30, 2024.
(in millions) | Amount
2024 (6 months remaining) | $ | 1.8 |
2025 | $ | 3.6 |
2026 | $ | 3.6 |
2027 | $ | 3.6 |
2028 | $ | 3.6 |
Thereafter | $ | 13.6 |

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-30/tableOfContent Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-20/tableOfContent + Details
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