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Goodwill and Intangible Assets (Notes) | 6 Months Ended
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Jun. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Intangible Assets Disclosure [Text Block] | Goodwill and Intangible Assets, Net Goodwill The following table presents the changes in the carrying amount of our goodwill (in thousands):
|  | Total
Balance as of January 1, 2022 |  | $ | 43,439 |
Goodwill acquired (1) |  | 1,444,939 |
Other (2) |  | (7,128) |
Currency translation |  | (60,034) |
Balance as of June 30, 2022 |  | $ | 1,421,216 |
_______________________________ (1) Relates to Smiths Medical acquired on January 6, 2022. (2) Other reflects measurement period adjustments related to a 2021 acquisition of a small foreign infusion systems supplier. Intangible Assets, Net Intangible assets, carried at cost less accumulated amortization and amortized on a straight-lined basis, were as follows (in thousands):
|  | Weighted-Average Amortization Life in Years |  | June 30, 2022
|  |  | Cost |  | Accumulated Amortization |  | Net
Patents |  | 10 |  | $ | 28,603 |  |  | $ | 17,669 |  |  | $ | 10,934 |
Customer contracts |  | 12 |  | 10,140 |  |  | 6,310 |  |  | 3,830 |
Non-contractual customer relationships |  | 8 |  | 581,669 |  |  | 68,232 |  |  | 513,437 |
Trademarks |  | 1 |  | 5,425 |  |  | 5,425 |  |  | — |
Trade name |  | 15 |  | 18,253 |  |  | 5,343 |  |  | 12,910 |
Developed technology |  | 10 |  | 584,070 |  |  | 78,703 |  |  | 505,367 |
Non-compete |  | 3 |  | 9,100 |  |  | 3,872 |  |  | 5,228 |
Total amortized intangible assets |  |  |  | $ | 1,237,260 |  |  | $ | 185,554 |  |  | $ | 1,051,706 |
Internally developed software* |  |  |  | $ | 28,623 |  |  |  |  | $ | 28,623 |
Total intangible assets |  |  |  | $ | 1,265,883 |  |  | $ | 185,554 |  |  | $ | 1,080,329 |
______________________________ * Internally developed software will be amortized when the projects are complete and the assets are ready for their intended use.
|  | Weighted-Average Amortization Life in Years |  | December 31, 2021
|  |  | Cost |  | Accumulated Amortization |  | Net
Patents |  | 10 |  | $ | 27,429 |  |  | $ | 16,764 |  |  | $ | 10,665 |
Customer contracts |  | 12 |  | 10,412 |  |  | 6,196 |  |  | 4,216 |
Non-contractual customer relationships |  | 9 |  | 57,316 |  |  | 33,004 |  |  | 24,312 |
Trademarks |  | 4 |  | 425 |  |  | 425 |  |  | — |
Trade name |  | 15 |  | 18,260 |  |  | 4,731 |  |  | 13,529 |
Developed technology |  | 13 |  | 152,893 |  |  | 49,406 |  |  | 103,487 |
Non-compete |  | 3 |  | 9,100 |  |  | 2,356 |  |  | 6,744 |
Total amortized intangible assets |  |  |  | $ | 275,835 |  |  | $ | 112,882 |  |  | $ | 162,953 |
Internally developed software* |  |  |  | $ | 25,358 |  |  |  |  | $ | 25,358 |
Total intangible assets |  |  |  | $ | 301,193 |  |  | $ | 112,882 |  |  | $ | 188,311 |
______________________________ * Internally developed software will be amortized when the projects are complete and the assets are ready for their intended use. Intangible assets with definite lives are amortized on a straight-line basis over their estimated useful lives. During the three months ended June 30, 2022 and 2021, intangible asset amortization expense was $41.6 million and $5.8 million, respectively. During the six months ended June 30, 2022 and 2021, intangible asset amortization expense was $73.3 million and $11.6 million, respectively. During the three and six months ended June 30, 2022, intangible assets and related amortization expense increased significantly due to the acquisition of Smiths Medical (see Note 3: Acquisitions). As of June 30, 2022 estimated annual amortization for our intangible assets for each of the next five years is approximately (in thousands):
Remainder of 2022 |  | $ | 65,893 |
2023 |  | 136,217 |
2024 |  | 135,578 |
2025 |  | 127,922 |
2026 |  | 127,384 |
2027 |  | 119,279 |
Thereafter |  | 339,433 |
Total |  | $ | 1,051,706 |

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -URI http://asc.fasb.org/topic&trid=2144416 + Details
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