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Goodwill and Other Purchased Intangible Assets | 9 Months Ended
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Sep. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Other Purchased Intangible Assets | 3. GOODWILL AND OTHER PURCHASED INTANGIBLE ASSETS Changes to goodwill by segment are as follows (in millions):
| Life Science |  | Clinical Diagnostics |  | Total
Balances as of January 1, 2024: |  |  |  |  |
Goodwill | $ | 333.3 |  |  | $ | 415.5 |  |  | $ | 748.8 |
Accumulated impairment losses | (41.8) |  |  | (293.4) |  |  | (335.2) |
Goodwill, net | 291.5 |  |  | 122.1 |  |  | 413.6 |
Foreign currency adjustments | — |  |  | 1.5 |  |  | 1.5 |
Period change, net | — |  |  | 1.5 |  |  | 1.5 |
Balances as of September 30, 2024: |  |  |  |  |
Goodwill | 333.3 |  |  | 417.0 |  |  | 750.3 |
Accumulated impairment losses | (41.8) |  |  | (293.4) |  |  | (335.2) |
Goodwill, net | $ | 291.5 |  |  | $ | 123.6 |  |  | $ | 415.1 |
Information regarding our identifiable purchased intangible assets with finite and indefinite lives is as follows (in millions):
| September 30, 2024
| Weighted-Average Remaining Amortization Period (years) |  | Purchase Price |  | Accumulated Amortization |  | Net Carrying Amount
Customer relationships/lists | 4.8 |  | $ | 108.4 |  |  | $ | (100.6) |  |  | $ | 7.8 |
Know how | 1.0 |  | 169.7 |  |  | (165.2) |  |  | 4.5 |
Developed product technology | 11.6 |  | 219.3 |  |  | (141.5) |  |  | 77.8 |
Licenses | 4.2 |  | 59.3 |  |  | (45.2) |  |  | 14.1 |
Tradenames | 4.8 |  | 6.0 |  |  | (4.9) |  |  | 1.1 |
Covenants not to compete | 1.5 |  | 6.4 |  |  | (5.4) |  |  | 1.0 |
Total finite-lived intangible assets |  |  | 569.1 |  |  | (462.8) |  |  | 106.3 |
In-process research and development |  |  | 201.0 |  |  | — |  |  | 201.0 |
Total purchased intangible assets |  |  | $ | 770.1 |  |  | $ | (462.8) |  |  | $ | 307.3 |
| December 31, 2023
| Weighted-Average Remaining Amortization Period (years) |  | Purchase Price |  | Accumulated Amortization |  | Net Carrying Amount
Customer relationships/lists | 5.2 |  | $ | 108.7 |  |  | $ | (98.9) |  |  | $ | 9.8 |
Know how | 1.8 |  | 168.9 |  |  | (161.1) |  |  | 7.8 |
Developed product technology | 12.0 |  | 217.8 |  |  | (132.9) |  |  | 84.9 |
Licenses | 4.9 |  | 59.2 |  |  | (42.4) |  |  | 16.8 |
Tradenames | 5.6 |  | 6.1 |  |  | (4.7) |  |  | 1.4 |
Covenants not to compete | 2.3 |  | 6.4 |  |  | (4.8) |  |  | 1.6 |
Total finite-lived intangible assets |  |  | 567.1 |  |  | (444.8) |  |  | 122.3 |
In-process research and development |  |  | 198.2 |  |  | — |  |  | 198.2 |
Total purchased intangible assets |  |  | $ | 765.3 |  |  | $ | (444.8) |  |  | $ | 320.5 |
Amortization expense related to purchased intangible assets is as follows (in millions):
| Three Months Ended |  | Nine Months Ended
| September 30, |  | September 30,
| 2024 |  | 2023 |  | 2024 |  | 2023
Amortization expense | $ | 5.3 |  |  | $ | 6.2 |  |  | $ | 16.1 |  |  | $ | 18.1 |

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-30/tableOfContent Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-20/tableOfContent + Details
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