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Goodwill And Other Intangible Assets | 9 Months Ended
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Sep. 30, 2021
Goodwill And Other Intangible Assets [Abstract] |
Goodwill And Other Intangible Assets | 8. Goodwill and Other Intangible Assets Indefinite Lived Intangible Assets As of September 30, 2021 and December 31, 2020 the carrying values of our indefinite lived intangible assets were as follows (in thousands):
| September 30, |  | December 31,
| 2021 |  | 2020
Goodwill | $ | 252,441 |  | $ | 260,061
In-process R&D |  | 2,258 |  |  | 2,392
Procurement contracts and agreements |  | 2,013 |  |  | 2,013
Trademarks a |  | 397 |  |  | 765
__________ a During the three and nine months ended September 30, 2021 we transferred $380,000 of PerClot related trademarks to Baxter as a result of the Baxter Transaction described in Note 2. We monitor the phases of development of our acquired in-process research and development 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. Our in-process research and development projects are reviewed for impairment annually, or more frequently, if events or changes in circumstances indicate that the asset might be impaired. 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 evaluate our goodwill and non-amortizing intangible assets for impairment on an annual basis during the fourth quarter of the year, and, if necessary, during interim periods if factors indicate that an impairment review is warranted. As of September 30, 2021 we concluded that our assessment of current factors did not indicate that goodwill or non-amortizing intangible assets are more likely than not to be impaired. We will continue to evaluate the recoverability of these non-amortizing intangible assets in future periods as necessary. As of September 30, 2021 and December 31, 2020 our entire goodwill balance was related to our Medical devices segment.
| Medical Devices Segment
Balance as of December 31, 2020 | $ | 260,061
Ascyrus acquisition |  | (942)
Revaluation of goodwill denominated in foreign currency |  | (6,678)
Balance as of September 30, 2021 | $ | 252,441
Definite Lived Intangible Assets The definite lived intangible balance includes balances related to acquired technology, customer relationships, distribution and manufacturing rights and know-how, patents, and other definite lived intangible assets. During the three and nine months ended September 30, 2021 we transferred $1.2 million of PerClot related distribution and manufacturing rights to Baxter as a result of the Baxter Transaction described in Note 2. As of September 30, 2021 and December 31, 2020 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
September 30, 2021 | Value |  | Amortization |  | Period
Acquired technology | $ | 215,917 |  | $ | 44,129 |  | 11 | – | 22 | Years
Customer lists and relationships |  | 31,192 |  |  | 9,248 |  | 13 | – | 22 | Years
Distribution and manufacturing rights and know-how |  | 10,068 |  |  | 3,933 |  | 5 | – | 15 | Years
Patents |  | 4,041 |  |  | 3,136 |  |  |  | 17 | Years
Other |  | 3,938 |  |  | 1,589 |  | 4 | – | 5 | Years
| Gross Carrying |  | Accumulated |  | Amortization
December 31, 2020 | Value |  | Amortization |  | Period
Acquired technology | $ | 222,182 |  | $ | 36,091 |  | 11 | – | 22 | Years
Customer lists and relationships |  | 31,316 |  |  | 8,132 |  | 13 | – | 22 | Years
Distribution and manufacturing rights and know-how |  | 14,728 |  |  | 5,349 |  | 5 | – | 15 | Years
Patents |  | 3,966 |  |  | 3,113 |  |  |  | 17 | Years
Other |  | 3,453 |  |  | 1,073 |  | 4 | – | 5 | Years
Amortization Expense The following is a summary of amortization expense as recorded in General, administrative, and marketing expenses on our Condensed Consolidated Statement of Operations and Comprehensive Income (Loss) (in thousands):
| Three Months Ended |  | Nine Months Ended
| September 30, |  | September 30,
| 2021 |  | 2020 |  | 2021 |  | 2020
Amortization expense | $ | 4,203 |  | $ | 3,397 |  | $ | 12,701 |  | $ | 9,430
As of September 30, 2021 scheduled amortization of intangible assets for the next five years is as follows (in thousands):
| Remainder |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| of 2021 |  | 2022 |  | 2023 |  | 2024 |  | 2025 |  | 2026 |  | Total
Amortization expense | $ | 4,121 |  |  | 15,944 |  |  | 15,434 |  |  | 15,050 |  |  | 13,002 |  |  | 12,771 |  | $ | 76,322

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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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