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Goodwill and Intangible Assets
 12 Months Ended
Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Intangible Assets Goodwill and Intangible Assets
As of December 31, 2022, in connection with the acquisitions, the Company had goodwill of $197.8 million and IPR&D of $23.0 million, which are reported at fair value on the Company's Consolidated Balance Sheets. Intangible assets related to IPR&D assets are considered to be indefinite-lived until the completion or abandonment of the associated research and development efforts. During the period the assets are considered indefinite-lived, they will not be amortized but will be tested for impairment on an annual basis and between annual tests if the Company becomes aware of any events occurring or changes in circumstances that would indicate a reduction in the fair value of the IPR&D assets below their respective carrying amounts.
Goodwill and intangible assets are assessed annually for impairment on October 1 and whenever events or circumstances indicate that the carrying amount of an asset may not be recoverable. A goodwill impairment loss, if any, is measured as the amount by which the Company's single reporting unit's carrying value, including goodwill, exceeds its fair value. An IPR&D impairment loss, if any, is measured as the amount by which the carrying amount of the asset exceeds its fair value.
The following table represents the changes in IPR&D for the years ended December 31, 2022 and 2021, respectively:
 (in millions)
Balance at December 31, 2020$23.0 
Change in IPR&D— 
Balance at December 31, 2021$23.0 
Change in IPR&D— 
Balance at December 31, 2022$23.0 
The following table represents the changes in Goodwill for the years ended December 31, 2022 and 2021, respectively:
 (in millions)
Balance at December 31, 2020$197.8 
Change in goodwill— 
Balance at December 31, 2021$197.8 
Change in goodwill— 
Balance at December 31, 2022$197.8