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Acquisitions (Tables)
12 Months Ended
Dec. 31, 2022
Business Combination and Asset Acquisition [Abstract]  
Schedule of Allocation of Consideration / Recognized Identified Assets Acquired and Liabilities Assumed The following table sets forth an allocation of the purchase price to the identifiable tangible and intangible assets acquired and liabilities assumed, with the excess recorded to goodwill (in thousands):
Cash $51,407 
Restricted cash200 
Accounts and unbilled receivables1,359 
Property and equipment, net7,823 
Right-of-use asset3,070 
Other assets1,338 
Intangibles acquired385,000 
Goodwill(1)
82,303 
Accounts payable(6,814)
Accrued liabilities(9,606)
Deferred revenue(3,908)
Lease liabilities(3,070)
Other liabilities(1,382)
Deferred tax liabilities, net(42,622)
Total consideration$465,098 
(1) Goodwill represents the excess of the purchase price over the preliminary fair value of the underlying assets acquired and liabilities assumed. Goodwill is attributable to the assembled workforce of experienced personnel at Pfenex and expected synergies. None of the goodwill is deductible for tax purposes.
Schedule of Finite-Lived Intangibles Acquired
The intangibles acquired and their weighted average useful life are as follows (in thousands, except useful lives):
Approximate
Fair Value
Estimated useful life
(in years)
Contractual Relationships:
Alvogen$114,000 12
Merck117,000 12
Jazz80,000 17
SII49,000 10
Arcellx2,000 17
Acquired Technologies23,000 
10-19
$385,000 
Schedule of Pro Forma Information The pro forma financial information is not necessarily indicative of the operating results that would have occurred had the acquisition been consummated as if the date indicated, nor is it necessarily indicative of future operating results (in thousands, except per share amounts):
Year Ended December 31,
(Unaudited)20202019
Revenue$189,203 $170,608 
Net Income (loss)$(60,059)$594,941 
Net income (loss) per common share:
    Basic$(3.71)$31.32 
    Diluted$(3.71)$30.11