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Goodwill And Other Intangible Assets | 6 Months Ended
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Jun. 30, 2018
Goodwill And Other Intangible Assets [Abstract] |
Goodwill And Other Intangible Assets | 6. Goodwill and Other Intangible Assets Indefinite Lived Intangible Assets As of June 30, 2018 and December 31, 2017 the carrying values of our indefinite lived intangible assets were as follows (in thousands): ﻿ ﻿
﻿ |  |  |  |  |
﻿ | June 30, |  | December 31,
﻿ | 2018 |  | 2017
﻿Goodwill | $ | 187,058 |  | $ | 188,305
﻿In-process R&D |  | 13,497 |  |  | 13,954
﻿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. ﻿ We monitor the phases of development of all in-process R&D projects, including the risks associated with further development and the amount and timing of benefits expected to be derived from the completed projects. Incremental costs associated with development are charged to expense as incurred. Capitalized costs are amortized over the estimated useful life of the developed asset once completed. All in process R&D projects are reviewed for impairment annually or more frequently if events or changes in circumstances indicate that the asset might be impaired. ﻿ As of June 30, 2018 and December 31, 2017 our entire goodwill balance was related to our Medical Devices segment. ﻿ ﻿
﻿ |  |
﻿ | Medical Devices Segment
﻿Balance as of December 31, 2017 | $ | 188,305
﻿Additional goodwill from JOTEC Acquisition |  | 1,359
﻿Revaluation of goodwill denominated in foreign currency |  | (2,606)
﻿Balance as of June 30, 2018 | $ | 187,058
﻿ Definite Lived Intangible Assets As of June 30, 2018 and December 31, 2017 the gross carrying values, accumulated amortization, and approximate amortization period of our definite lived intangible assets were as follows (in thousands): ﻿ ﻿
﻿ |  |  |  |  |  |  |  |  |  |
﻿ | Gross Carrying |  | Accumulated |  | Amortization
﻿June 30, 2018 | Value |  | Amortization |  | Period
﻿Acquired technology | $ | 135,768 |  | $ | 12,787 |  | 11 | – | 22 | Years
﻿Patents |  | 3,601 |  |  | 2,867 |  |  |  | 17 | Years
﻿Distribution and manufacturing rights and know-how |  | 4,059 |  |  | 1,963 |  | 11 | – | 15 | Years
﻿Customer lists and relationships |  | 32,288 |  |  | 4,319 |  | 13 | – | 23 | Years
﻿Other |  | 1,638 |  |  | 1,286 |  | 3 | – | 5 | Years
﻿ |  |  |  |  |  |  |  |  |  |
﻿ | Gross Carrying |  | Accumulated |  | Amortization
﻿December 31, 2017 | Value |  | Amortization |  | Period
﻿Acquired technology | $ | 139,045 |  | $ | 8,686 |  | 11 | – | 22 | Years
﻿Patents |  | 3,612 |  |  | 2,819 |  |  |  | 17 | Years
﻿Distribution and manufacturing rights and know-how |  | 4,059 |  |  | 1,820 |  | 11 | – | 15 | Years
﻿Customer lists and relationships |  | 32,419 |  |  | 3,552 |  | 13 | – | 23 | Years
﻿Other |  | 1,439 |  |  | 1,075 |  |  |  | 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 (Loss) Income (in thousands): ﻿
﻿ |  |  |  |  |  |  |  |  |  |  |
﻿ | Three Months Ended |  | Six Months Ended
﻿ | June 30, |  | June 30,
﻿ | 2018 |  | 2017 |  | 2018 |  | 2017
﻿Amortization expense | $ | 2,753 |  | $ | 1,141 |  | $ | 5,487 |  | $ | 2,283
﻿ ﻿ As of June 30, 2018 scheduled amortization of intangible assets for the next five years is as follows (in thousands): ﻿
﻿ |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
﻿ | Remainder |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
﻿ | of 2018 |  | 2019 |  | 2020 |  | 2021 |  | 2022 |  | 2023 |  | Total
﻿Amortization expense | $ | 5,270 |  | $ | 10,306 |  | $ | 10,143 |  | $ | 10,122 |  | $ | 9,594 |  | $ | 9,255 |  | $ | 54,690

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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 -URI http://asc.fasb.org/topic&trid=2144416 + Details
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