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Intangible Assets | 12 Months Ended
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Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract] |
Intangible Assets | Intangible Assets The carrying amount of Intangible Assets for the years ended December 31, 2022 and 2021 is as follows:
| December 31, 2022 | December 31, 2021
Cost | (in thousands)
Customer relationships | $ | 4,076,435 |  | $ | 4,056,642 |
Order backlog | 536,934 |  | 528,022 |
Trade names & brands | 204,621 |  | 204,685 |
Patient database | 170,238 |  | 170,525 |
Technology assets | 120,984 |  | 121,507 |
Total cost | 5,109,212 |  | 5,081,381 |
Accumulated amortization | (830,553) |  | (370,538) |
Net book value | $ | 4,278,659 |  | $ | 4,710,843 |
On July 1, 2021, ICON plc announced the completion of its Merger with PRA Health Sciences, Inc. The Merger resulted in the recognition of Customer relationships of $3,938.0 million, Order backlog of $500.0 million, Trade names of $202.0 million, Patient database of $168.0 million and Technology assets of $111.0 million. These assets will be amortized over their expected useful lives of between 3 and 23 years. The valuation of these assets were finalized in June 30, 2022. In total, $677.1 million has been amortized in the period since the date of acquisition, $453.6 million has been amortized in the year ended December 31, 2022. Future intangible asset amortization expense for the years ended December 31, 2023 to December 31, 2027 is as follows:
| Year Ended December 31, 2022
| (in thousands)
2023 | $ | 460,711 |
2024 | 339,940 |
2025 | 223,674 |
2026 | 209,681 |
2027 | 198,300 |
| $ | 1,432,306 |

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- Definition The entire disclosure for all or part of the information related to intangible assets. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -URI https://asc.fasb.org/subtopic&trid=2144471 + Details
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