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Goodwill and Intangible Assets | 3 Months Ended
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Mar. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Intangible Assets | Goodwill and Intangible Assets Goodwill On May 24, 2022, we acquired all outstanding equity interests of Antares. A goodwill balance of $409.0 million was recognized for the excess of the consideration transferred over the net assets acquired and represents the expected revenue and cost synergies of the combined company and assembled workforce. A summary of the activity impacting goodwill is presented below (in thousands):
Balance as of December 31, 2022 |  | $ | 409,049 |
Measurement period adjustment |  | 7,174 |
Balance as of March 31, 2023 |  | $ | 416,223 |
Intangible Assets Our acquired intangible assets are amortized using the straight-line method over their estimated useful lives of seven to ten years. The following table shows the cost, accumulated amortization and weighted average useful life in years for our acquired intangible assets as of March 31, 2023 (in thousands).
|  | Weighted average useful life (in years) |  | Gross Carrying Value |  | Accumulated Amortization |  | Net Carrying Value
Auto injector technology platform |  | 7 |  | $ | 402,000 |  |  | $ | 49,092 |  |  | $ | 352,908 |
XYOSTED proprietary product |  | 10 |  | 136,200 |  |  | 11,643 |  |  | 124,557 |
TLANDO product rights |  | 10 |  | 2,900 |  |  | 248 |  |  | 2,652 |
Total finite-lived intangibles, net |  | $ | 541,100 |  |  | $ | 60,983 |  |  | $ | 480,117 |
ATRS-1902 (IPR&D) |  | Indefinite |  |  |  |  |  | 48,700 |
Total intangibles, net |  | $ | 528,817 |
The estimated future annual amortization of finite-lived intangible assets is shown in the following table (in thousands). Actual amortization expense to be reported in future periods could differ from these estimates as a result of acquisitions, divestitures, and asset impairments, among other factors.
Year |  | Amortization Expense
Remainder of 2023 |  | $ | 53,504 |
2024 |  | 71,339 |
2025 |  | 71,339 |
2026 |  | 71,339 |
2027 |  | 71,339 |
Thereafter |  | 141,257 |
Total |  | $ | 480,117 |

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -URI http://asc.fasb.org/topic&trid=2144416 + Details
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