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Goodwill and Other Purchased Intangible Assets

9 Months Ended

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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- References

No definition available.

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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

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