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Goodwill and Intangible Assets | 9 Months Ended
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Sep. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Intangible Assets | Goodwill and Intangible Assets Goodwill A summary of the activity impacting goodwill is presented below (in thousands):
Balance as of December 31, 2022 |  | $ | 409,049 |
Measurement period adjustment (1) |  | 7,772 |
Balance as of September 30, 2023 |  | $ | 416,821 |
(1) Refer to Note 3, Business Combination, for further discussion on the measurement period adjustment. 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 September 30, 2023 (in thousands).
|  | Weighted average useful life (in years) |  | Gross Carrying Value |  | Accumulated Amortization |  | Net Carrying Value
Auto injector technology platform |  | 7 |  | $ | 402,000 |  |  | $ | 77,806 |  |  | $ | 324,194 |
XYOSTED proprietary product |  | 10 |  | 136,200 |  |  | 18,453 |  |  | 117,747 |
Total finite-lived intangibles, net (1) |  | $ | 538,200 |  |  | $ | 96,259 |  |  | $ | 441,941 |
ATRS-1902 (IPR&D) |  | Indefinite |  |  |  |  |  | 48,700 |
Total intangibles, net |  | $ | 490,641 |
(1) An impairment charge of $2.5 million was recognized in the three months ended September 30, 2023 resulting in the full impairment of the TLANDO product rights intangible asset. The impairment charge resulted from the notice of termination of the TLANDO license agreement provided to Lipocine in September 2023, effective January 31, 2024, and is included in amortization of intangibles in our condensed consolidated statements of income. 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 |  | $ | 17,762 |
2024 |  | 71,049 |
2025 |  | 71,049 |
2026 |  | 71,049 |
2027 |  | 71,049 |
Thereafter |  | 139,983 |
Total |  | $ | 441,941 |

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