XML 24 R11.htm IDEA: XBRL DOCUMENT
v3.22.1

Goodwill And Other Intangible Assets | 3 Months Ended
--- | ---
Mar. 31, 2022
Goodwill And Other Intangible Assets [Abstract] |
Goodwill And Other Intangible Assets | 5. Goodwill and Other Intangible Assets Indefinite Lived Intangible Assets As of March 31, 2022 and December 31, 2021 the carrying values of our indefinite lived intangible assets were as follows (in thousands):
| March 31, |  | December 31,
| 2022 |  | 2021
Goodwill | $ | 247,829 |  | $ | 250,000
In-process R&D |  | 2,164 |  |  | 2,208
Procurement contracts and agreements |  | 2,013 |  |  | 2,013
Trademarks |  | 196 |  |  | 66
W e 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. We did not record any impairment of indefinite lived intangible assets during the three months ended March 31, 2022. In-process research and development, procurement contracts and agreements, and trademarks are included in Other intangibles, net on the Condensed Consolidated Balance Sheets as of March 31, 2022 and December 31, 2021. 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 March 31, 2022 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 March 31, 2022 and December 31, 2021 our entire goodwill balance was related to our Medical devices segment.
| Medical Devices Segment
Balance as of December 31, 2021 | $ | 250,000
Foreign currency translation |  | (2,171)
Balance as of March 31, 2022 | $ | 247,829
Definite Lived Intangible Assets The definite lived intangible assets balance includes balances related to acquired technology, customer relationships, distribution and manufacturing rights and know-how, patents, and other definite lived intangible assets. As of March 31, 2022 and December 31, 2021 the gross carrying values, accumulated amortization, and approximate amortization period of our definite lived intangible assets were as follows (in thousands):
|  |  |  |  |  |  |  |  |  | Weighted Average
| Gross Carrying |  | Accumulated |  | Net Carrying |  | Useful Life
March 31, 2022 | Value |  | Amortization |  | Value |  | (Years)
Acquired technology | $ | 211,589 |  | $ | 49,131 |  | $ | 162,458 |  | 17.7
Other intangibles: |  |  |  |  |  |  |  |  |  |
Customer lists and relationships |  | 31,108 |  |  | 9,987 |  |  | 21,121 |  | 20.5
Distribution and manufacturing rights and know-how |  | 9,652 |  |  | 4,675 |  |  | 4,977 |  | 5.0
Patents |  | 4,127 |  |  | 3,153 |  |  | 974 |  | 17.0
Other |  | 4,190 |  |  | 1,938 |  |  | 2,252 |  | 4.4
Total other intangibles | $ | 49,077 |  | $ | 19,753 |  | $ | 29,324 |  | 10.6
|  |  |  |  |  |  |  |  |  | Weighted Average
| Gross Carrying |  | Accumulated |  | Net Carrying |  | Useful Life
December 31, 2021 | Value |  | Amortization |  | Value |  | (Years)
Acquired technology | $ | 213,626 |  | $ | 46,632 |  | $ | 166,994 |  | 17.7
Other intangibles: |  |  |  |  |  |  |  |  |  |
Customer lists and relationships |  | 31,148 |  |  | 9,618 |  |  | 21,530 |  | 20.5
Distribution and manufacturing rights and know-how |  | 9,847 |  |  | 4,308 |  |  | 5,539 |  | 5.0
Patents |  | 4,083 |  |  | 3,144 |  |  | 939 |  | 17.0
Other |  | 3,969 |  |  | 1,762 |  |  | 2,207 |  | 4.4
Total other intangibles | $ | 49,047 |  | $ | 18,832 |  | $ | 30,215 |  | 10.6
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 Loss (in thousands):
| Three Months Ended
| March 31,
| 2022 |  | 2021
Amortization expense | $ | 4,084 |  | $ | 4,260
As of March 31, 2022 scheduled amortization of intangible assets for the next five years is as follows (in thousands):
| Remainder |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| of 2022 |  | 2023 |  | 2024 |  | 2025 |  | 2026 |  | 2027 |  | Total
Amortization expense | $ | 11,625 |  |  | 15,131 |  |  | 14,754 |  |  | 12,785 |  |  | 12,559 |  |  | 12,496 |  | $ | 79,350

X
- References No definition available. + Details
Name: | us-gaap_GoodwillAndIntangibleAssetsDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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
Name: | us-gaap_GoodwillAndIntangibleAssetsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration