XML 43 R33.htm IDEA: XBRL DOCUMENT v3.24.2
INTANGIBLE ASSETS AND GOODWILL (Tables)
 6 Months Ended
Jun. 30, 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 June 30, 2024:
(In thousands)Weighted Average Remaining Life (Years)CostAccumulated Amortization
Net Balance at June 30, 2024
Finite-lived intangible assets
Trade name11.2$104,000 $(31,528)$72,472 
Customer relationships6.54,000 (1,111)2,889 
Patents and licenses5.911,542 (10,324)1,218 
Acquired developed technology (1)6.8887,352 (370,453)516,899 
Total finite-lived intangible assets1,006,894 (413,416)593,478 
In-process research and developmentn/a1,250,000 — 1,250,000 
Total intangible assets$2,256,894 $(413,416)$1,843,478 
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)CostAccumulated Amortization
Net balance at December 31, 2023
Finite-lived intangible assets
Trade name11.6$104,000 $(27,903)$76,097 
Customer relationships7.04,000 (889)3,111 
Patents and licenses4.511,542 (9,600)1,942 
Acquired developed technology (1)7.3887,789 (328,543)559,246 
Total finite-lived intangible assets1,007,331 (366,935)640,396 
In-process research and developmentn/a1,250,000 — 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 June 30, 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 six months)$46,288 
202591,860 
202690,800 
202790,800 
202890,800 
Thereafter182,930 
$593,478 
Schedule of carrying amount of goodwill
The change in the carrying amount of goodwill for the periods ended June 30, 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)(353)
Balance June 30, 2024
$2,366,972 
______________
(1)Represents the impact of foreign currency translation related to the goodwill acquired as a result of the acquisition of OmicEra.