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Goodwill And Other Intangible Assets | 12 Months Ended
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Dec. 31, 2021
Goodwill And Other Intangible Assets [Abstract] |
Goodwill And Other Intangible Assets | 8. Goodwill and Other Intangible Assets Indefinite Lived Intangible Assets As of December 31, 2021 and 2020 the carrying values of our indefinite lived intangible assets are as follows (in thousands): 2021 2020Goodwill$ 250,000 $ 260,061In-process R&D 2,208 2,392Procurement contracts and agreements 2,013 2,013Trademarks 66 765 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. The company did not record any impairment of indefinite lived intangible assets during the twelve months ended December 31, 2021 and 2020. In-process research and development, procurement contracts and agreements and trademarks are included in Other intangibles, net on the consolidated balance sheets as of December 31, 2021 and 2020. 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 these trademarks will contribute to our cash flows indefinitely. As of December 31, 2021 and 2020 the value of our goodwill, all of which is related to our Medical Devices reporting unit, is as follows (in thousands): 2021 2020Balance as of January 1, $ 260,061 $ 186,697Ascyrus acquisition (942) 63,357Revaluation of goodwill denominated in foreign currency (9,119) 10,007Balance as of December 31, $ 250,000 $ 260,061 Definite Lived Intangible Assets As of December 31, 2021 and 2020 gross carrying values, accumulated amortization, and approximate amortization periods of our definite lived intangible assets are as follows (dollars in thousands): Weighted Average Gross Carrying Accumulated Net Carrying Useful LifeDecember 31, 2021Value Amortization Value (Years)Acquired technology$ 213,626 $ 46,632 $ 166,994 17.7Other intangibles: Customer lists and relationships 31,148 9,618 21,530 20.5Distribution and manufacturing rights and know-how 9,847 4,308 5,539 5.0Patents 4,083 3,144 939 17.0Other 3,969 1,762 2,207 4.4Total other intangibles$ 49,047 $ 18,832 $ 30,215 10.6 ‎ Weighted Average Gross Carrying Accumulated Net Carrying Useful LifeDecember 31, 2020Value Amortization Value (Years)Acquired technology$ 222,182 $ 36,091 $ 186,091 17.6Other intangibles: Customer lists and relationships 31,316 8,132 23,184 20.5Distribution and manufacturing rights and know-how 14,728 5,349 9,379 6.1Patents 3,966 3,113 853 17.0Other 3,453 1,073 2,380 4.4Total other intangibles$ 53,463 $ 17,667 $ 35,796 10.8 Amortization Expense Amortization expense recorded in General, administrative, and marketing expenses on our Consolidated Statements of Operations and Comprehensive Loss for the years ended December 31 is as follows (in thousands): 2021 2020 2019Amortization expense$ 16,820 $ 13,764 $ 10,850 As of December 31, 2021 scheduled amortization of intangible assets for the next five years is as follows (in thousands): 2022 2023 2024 2025 2026 TotalAmortization expense$ 15,765 $ 15,261 $ 14,885 $ 12,878 $ 12,650 $ 71,439‎

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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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