Goodwill And Other Intangible Assets

9 Months Ended

Sep. 30, 2017

Goodwill And Other Intangible Assets [Abstract]

8. Goodwill and Other Intangible Assets

Indefinite Lived Intangible Assets

As of September 30, 2017 and December 31, 2016 the carrying values of our indefinite lived intangible assets are as follows (in thousands):


	September 30,		December 31,
	2017		2016
Goodwill	$	78,294	$	78,294
Procurement contracts and agreements		2,013		2,013
Trademarks		841		841

Based on our experience with similar agreements, we believe that our acquired procurement contracts and agreements have indefinite useful lives, as we expect to continue to renew these contracts for the foreseeable future. We believe that our trademarks have indefinite useful lives as we currently anticipate that our trademarks will contribute to our cash flows indefinitely.

As of September 30, 2017 and December 31, 2016 our entire goodwill balance is related to our Medical Devices segment and there has been no change from the balance recorded as of December 31, 2016.

Definite Lived Intangible Assets

As of September 30, 2017 and December 31, 2016 the gross carrying values, accumulated amortization, and approximate amortization period of our definite lived intangible assets are as follows (in thousands):


	Gross Carrying		Accumulated		Amortization
September 30, 2017	Value		Amortization		Period
Acquired technology	$	38,478	$	7,615	11	–	22	Years
Patents		3,593		2,766			17	Years
Distribution and manufacturing rights and know-how		4,059		1,748	11	–	15	Years
Customer lists and relationships		29,140		3,190	13	–	22	Years
Other		1,418		942			3	Years

	Gross Carrying		Accumulated		Amortization
December 31, 2016	Value		Amortization		Period
Acquired technology	$	38,478	$	5,956	11	–	22	Years
Patents		3,710		2,702			17	Years
Distribution and manufacturing rights and know-how		4,059		1,532	11	–	15	Years
Customer lists and relationships		29,140		2,141	13	–	22	Years
Non-compete agreement		381		381			10	Years
Other		1,262		531			3	Years

Amortization Expense

The following is a summary of amortization expense as recorded in general, administrative, and marketing expenses on our Summary Consolidated Statement of Operations and Comprehensive Income (in thousands):


	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2017		2016		2017		2016
Amortization expense	$	1,140	$	1,155	$	3,423	$	3,273

As of September 30, 2017 scheduled amortization of intangible assets for the next five years is as follows (in thousands):


	Remainder
	of 2017		2018		2019		2020		2021		2022
Amortization expense	$	1,140	$	4,444	$	4,102	$	3,939	$	3,918	$	3,390

- 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.

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