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Goodwill And Other Intangible Assets | 3 Months Ended
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Mar. 31, 2016
Goodwill And Other Intangible Assets [Abstract] |
Goodwill And Other Intangible Assets | 9. Goodwill and Other Intangible Assets Indefinite Lived Intangible Assets As of March 31, 2016 and December 31, 2015 the carrying values of the Company’s indefinite lived intangible assets are as follows (in thousands): ﻿ ﻿
﻿ |  |  |  |  |
﻿ | March 31, |  | December 31,
﻿ | 2016 |  | 2015
﻿Goodwill | $ | 76,833 |  | $ | 11,365
﻿Procurement contracts and agreements |  | 2,013 |  |  | 2,013
﻿Trademarks |  | 839 |  |  | 860
﻿ Based on its experience with similar agreements, the Company believes that its acquired procurement contracts and agreements have indefinite useful lives, as the Company expects to continue to renew these contracts for the foreseeable future. The Company believes that its trademarks have indefinite useful lives as the Company currently anticipates that these trademarks will contribute to cash flows of the Company indefinitely. ﻿ As of March 31, 2016 and December 31, 2015 the value of the Company’s goodwill, all of which is related to its Medical Devices segment, is as follows (in thousands): ﻿ ﻿
﻿ |  |
﻿ | Medical Devices Segment
﻿Balance as of December 31, 2015 | $ | 11,365
﻿Goodwill from On-X acquisition |  | 66,768
﻿Goodwill allocated to sale of HeRO Graft product line |  | (1,200)
﻿Goodwill allocated to sale of ProCol distribution rights and purchase option |  | (100)
﻿Balance as of March 31, 2016 | $ | 76,833
﻿ Definite Lived Intangible Assets As of March 31, 2016 and December 31, 2015 the gross carrying values, accumulated amortization, and approximate amortization period of the Company’s definite lived intangible assets are as follows (in thousands): ﻿ ﻿
﻿ |  |  |  |  |  |  |  |  |  |
﻿ | Gross Carrying |  | Accumulated |  | Amortization
﻿March 31, 2016 | Value |  | Amortization |  | Period
﻿Acquired technology | $ | 36,410 |  | $ | 4,296 |  | 11 | – | 22 | Years
﻿Customer lists and relationships |  | 29,140 |  |  | 1,092 |  | 13 | – | 22 | Years
﻿Distribution and manufacturing rights and know-how |  | 4,059 |  |  | 1,317 |  | 11 | – | 15 | Years
﻿Patents |  | 3,775 |  |  | 2,656 |  |  |  | 17 | Years
﻿Non-compete agreement |  | 381 |  |  | 352 |  |  |  | 10 | Years
﻿Other |  | 1,605 |  |  | 335 |  | 3 | – | 5 | Years
﻿ |  |  |  |  |  |  |  |  |  |
﻿ | Gross Carrying |  | Accumulated |  | Amortization
﻿December 31, 2015 | Value |  | Amortization |  | Period
﻿Acquired technology | $ | 14,020 |  | $ | 4,954 |  | 11 | – | 16 | Years
﻿Patents |  | 4,081 |  |  | 2,664 |  |  |  | 17 | Years
﻿Distribution and manufacturing rights and know-how |  | 4,059 |  |  | 1,245 |  | 11 | – | 15 | Years
﻿Customer lists and relationships |  | 3,370 |  |  | 1,054 |  | 13 | – | 17 | Years
﻿Non-compete agreement |  | 381 |  |  | 343 |  |  |  | 10 | Years
﻿Other |  | 1,583 |  |  | 210 |  | 3 | – | 5 | Years
﻿ The increase in gross carrying value of the Company’s intangible assets as of March 31, 2016 when compared to December 31, 2015 is primarily due to the Company’s acquisition of On-X on January 20, 2016, partially offset by reductions due to the HeRO Sale. See Note 4 for further discussion of the acquisition of On-X and Note 5 for further discussion of the HeRO Sale. ﻿ Amortization Expense ﻿ The following is a summary of amortization expense as recorded in general, administrative, and marketing expenses on the Company’s Summary Consolidated Statement of Operations and Comprehensive Income (in thousands): ﻿
﻿ |  |  |  |  |
﻿ | Three Months Ended
﻿ | March 31,
﻿ | 2016 |  | 2015
﻿Amortization expense | $ | 962 |  | $ | 515
﻿ ﻿ As of March 31, 2016 scheduled amortization of intangible assets for the next five years is as follows (in thousands): ﻿
﻿ |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
﻿ | Remainder |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
﻿ | of 2016 |  | 2017 |  | 2018 |  | 2019 |  | 2020 |  | 2021
﻿Amortization expense | $ | 3,399 |  | $ | 4,487 |  | $ | 4,369 |  | $ | 3,984 |  | $ | 3,812 |  | $ | 3,789

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- Definition The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=26713463&loc=d3e16373-109275 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=26713463&loc=d3e16265-109275 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=26713463&loc=d3e16323-109275 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=35741047&loc=d3e13816-109267 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=35741047&loc=d3e13854-109267 + Details
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