XML 44 R33.htm IDEA: XBRL DOCUMENT
v3.24.1.u1

INTANGIBLE ASSETS AND GOODWILL (Tables) | 3 Months Ended
--- | ---
Mar. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract] |
Schedule of net-book value and estimated remaining life and finite lived intangible assets | The following table summarizes the net-book-value and estimated remaining life of the Company’s intangible assets as of March 31, 2024:
(In thousands) |  | Weighted Average Remaining Life (Years) |  | Cost |  | Accumulated Amortization |  | Net Balance at March 31, 2024
Finite-lived intangible assets |  |  |  |  |  |  |  |
Trade name |  | 11.4 |  | $ | 104,000 |  |  | $ | (29,715) |  |  | $ | 74,285 |
Customer relationships |  | 6.8 |  | 4,000 |  |  | (1,000) |  |  | 3,000 |
Patents and licenses |  | 5.0 |  | 11,542 |  |  | (9,961) |  |  | 1,581 |
Acquired developed technology (1) |  | 7.0 |  | 887,560 |  |  | (349,570) |  |  | 537,990 |
Total finite-lived intangible assets |  |  |  | 1,007,102 |  |  | (390,246) |  |  | 616,856 |
In-process research and development |  | n/a |  | 1,250,000 |  |  | — |  |  | 1,250,000 |
Total intangible assets |  |  |  | $ | 2,257,102 |  |  | $ | (390,246) |  |  | $ | 1,866,856 |
The following table summarizes the net-book-value and estimated remaining life of the Company’s intangible assets as of December 31, 2023:
(In thousands) |  | Weighted Average Remaining Life (Years) |  | Cost |  | Accumulated Amortization |  | Net balance at December 31, 2023
Finite-lived intangible assets |  |  |  |  |  |  |  |
Trade name |  | 11.6 |  | $ | 104,000 |  |  | $ | (27,903) |  |  | $ | 76,097 |
Customer relationships |  | 7.0 |  | 4,000 |  |  | (889) |  |  | 3,111 |
Patents and licenses |  | 4.5 |  | 11,542 |  |  | (9,600) |  |  | 1,942 |
Acquired developed technology (1) |  | 7.3 |  | 887,789 |  |  | (328,543) |  |  | 559,246 |
Total finite-lived intangible assets |  |  |  | 1,007,331 |  |  | (366,935) |  |  | 640,396 |
In-process research and development |  | n/a |  | 1,250,000 |  |  | — |  |  | 1,250,000 |
Total intangible assets |  |  |  | $ | 2,257,331 |  |  | $ | (366,935) |  |  | $ | 1,890,396 |
______________ (1)The gross carrying amount includes an insignificant foreign currency translation adjustment related to the intangible asset acquired as a result of the acquisition of OmicEra Diagnostics GmbH (“OmicEra”).
Schedule of estimated future amortization expense, intangible assets | As of March 31, 2024 the estimated future amortization expense associated with the Company’s finite-lived intangible assets for each of the five succeeding fiscal years is as follows:
(In thousands) |  |
2024 (remaining nine months) |  | $ | 69,598 |
2025 |  | 91,860 |
2026 |  | 90,800 |
2027 |  | 90,800 |
2028 |  | 90,800 |
Thereafter |  | 182,998 |
|  | $ | 616,856 |
Schedule of carrying amount of goodwill | The change in the carrying amount of goodwill for the periods ended March 31, 2024 and December 31, 2023 is as follows:
(In thousands) |  |
Balance, January 1, 2023 |  | $ | 2,346,040 |
Resolution Bioscience acquisition |  | 20,692 |
Effects of changes in foreign currency exchange rates (1) |  | 388 |
Balance, December 31, 2023 |  | 2,367,120 |
Resolution Bioscience acquisition adjustment |  | 205 |
Effects of changes in foreign currency exchange rates (1) |  | (273) |
Balance March 31, 2024 |  | $ | 2,367,052 |
______________ (1)Represents the impact of foreign currency translation related to the goodwill acquired as a result of the acquisition of OmicEra.

X
- References No definition available. + Details
Name: | us-gaap_GoodwillAndIntangibleAssetsDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of assets, excluding financial assets and goodwill, lacking physical substance with a finite life, by either major class or business segment. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Section 55 -Paragraph 40 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482640/350-30-55-40 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482665/350-30-50-2 + Details
Name: | us-gaap_ScheduleOfFiniteLivedIntangibleAssetsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Section 55 -Paragraph 24 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482548/350-20-55-24 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482573/350-20-50-1 Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (h) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482573/350-20-50-1 Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482573/350-20-50-1 Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482573/350-20-50-1 Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482573/350-20-50-1 Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482573/350-20-50-1 Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482573/350-20-50-1 Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482573/350-20-50-1 Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (g) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482573/350-20-50-1 Reference 11: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1A -Publisher FASB -URI https://asc.fasb.org/1943274/2147482573/350-20-50-1A Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482573/350-20-50-2 + Details
Name: | us-gaap_ScheduleOfGoodwillTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the amount of amortization expense expected to be recorded in succeeding fiscal years for finite-lived intangible assets. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Section 55 -Paragraph 40 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482640/350-30-55-40 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a)(3) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482665/350-30-50-2 + Details
Name: | us-gaap_ScheduleofFiniteLivedIntangibleAssetsFutureAmortizationExpenseTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration