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Goodwill and Intangible Assets | 6 Months Ended
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Jun. 30, 2023
Goodwill And Other Intangible Assets Disclosure [Abstract] |
Goodwill and Intangible Assets | 5. Goodwill and Intangible Assets Goodwill The following table represents the change in the carrying value of goodwill for the six months ended June 30, 2023 (amounts in thousands):
Balance at December 31, 2022 |  | $ | 855,513 |
Acquisition of FlexBiosys, Inc. |  |  | 14,355 |
Cumulative translation adjustment |  |  | 820 |
Balance at June 30, 2023 |  | $ | 870,688 |
During each of the fourth quarters of 2022, 2021 and 2020, the Company completed its annual impairment assessments and concluded that goodwill was not impaired in any of those years. The Company has not identified any “triggering” events which indicate an impairment of goodwill in the three and six months ended June 30, 2023. Intangible Assets Indefinite-lived intangible assets are reviewed for impairment at least annually. There has been no impairment of the Company’s intangible assets for the periods presented. Intangible assets, net, consisted of the following at June 30, 2023:
|  | June 30, 2023 |
|  | Gross Carrying Value |  |  | Accumulated Amortization |  |  | Net Carrying Value |  |  | Weighted Average Useful Life (in years) |
|  | (Amounts in thousands) |  |  |  |
Finite-lived intangible assets: |  |  |  |  |  |  |  |  |  |  |  |
Technology - developed |  | $ | 200,468 |  |  | $ | (37,053 | ) |  | $ | 163,415 |  |  |  | 16 |
Patents |  |  | 240 |  |  |  | (240 | ) |  |  | — |  |  |  | 8 |
Customer relationships |  |  | 255,546 |  |  |  | (74,896 | ) |  |  | 180,650 |  |  |  | 16 |
Trademarks |  |  | 7,717 |  |  |  | (1,544 | ) |  |  | 6,173 |  |  |  | 19 |
Other intangibles |  |  | 3,039 |  |  |  | (2,273 | ) |  |  | 766 |  |  |  | 4 |
Total finite-lived intangible assets |  |  | 467,010 |  |  |  | (116,006 | ) |  |  | 351,004 |  |  |  | 16 |
Indefinite-lived intangible asset: |  |  |  |  |  |  |  |  |  |  |  |
Trademarks |  |  | 700 |  |  |  | — |  |  |  | 700 |  |  |  | — |
Total intangible assets |  | $ | 467,710 |  |  | $ | (116,006 | ) |  | $ | 351,704 |  |  |  |
Intangible assets, net, consisted of the following at December 31, 2022:
|  | December 31, 2022 |
|  | Gross Carrying Value |  |  | Accumulated Amortization |  |  | Net Carrying Value |  |  | Weighted Average Useful Life (in years) |
|  | (Amounts in thousands) |  |  |  |
Finite-lived intangible assets: |  |  |  |  |  |  |  |  |  |  |  |
Technology - developed |  | $ | 190,463 |  |  | $ | (30,992 | ) |  | $ | 159,471 |  |  |  | 16 |
Patents |  |  | 240 |  |  |  | (240 | ) |  |  | — |  |  |  | 8 |
Customer relationships |  |  | 252,934 |  |  |  | (66,559 | ) |  |  | 186,375 |  |  |  | 15 |
Trademarks |  |  | 7,682 |  |  |  | (1,319 | ) |  |  | 6,363 |  |  |  | 19 |
Other intangibles |  |  | 2,811 |  |  |  | (2,044 | ) |  |  | 767 |  |  |  | 4 |
Total finite-lived intangible assets |  |  | 454,130 |  |  |  | (101,154 | ) |  |  | 352,976 |  |  |  | 16 |
Indefinite-lived intangible asset: |  |  |  |  |  |  |  |  |  |  |  |
Trademarks |  |  | 700 |  |  |  | — |  |  |  | 700 |  |  |  | — |
Total intangible assets |  | $ | 454,830 |  |  | $ | (101,154 | ) |  | $ | 353,676 |  |  |  |
Amortization expense for finite-lived intangible assets was $7.5 million and $6.6 million for each of the three months ended June 30, 2023 and 2022, respectively, and $14.9 million and $13.2 million for each of the six months ended June 30, 2023 and 2022, respectively. As of June 30, 2023, the Company expects to record the following amortization expense in future periods (amounts in thousands):
|  | Estimated |
|  | Amortization |
For the Years Ended December 31, |  | Expense |
2023 (remaining six months) |  | $ | 15,031 |
2024 |  |  | 29,599 |
2025 |  |  | 29,369 |
2026 |  |  | 29,195 |
2027 |  |  | 29,161 |
2028 and thereafter |  |  | 218,649 |
Total |  | $ | 351,004 |

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- Definition Goodwill And Other Intangible Assets Disclosure [Abstract] + References No definition available. + Details
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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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