v3.24.0.1

Goodwill and Intangible Assets | 12 Months Ended
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Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Intangible Assets Disclosure | Goodwill and Intangible Assets The following table summarizes the activity in Goodwill, by segment during the years ended December 31, 2023 and 2022:
| Prevention & Recovery |  | Reconstructive |  | Total
| (In thousands)
Balance, January 1, 2022 | $ | 1,088,533 |  |  | $ | 845,725 |  |  | $ | 1,934,258 |
Goodwill attributable to acquisitions(1) | — |  |  | 61,241 |  |  | 61,241 |
Impact of foreign currency translation | (10,897) |  |  | (1,014) |  |  | (11,911) |
Balance, December 31, 2022 | 1,077,636 |  |  | 905,952 |  |  | 1,983,588 |
Goodwill attributable to acquisitions(1) | — |  |  | 43,683 |  |  | 43,683 |
Impact of foreign currency translation | 23,859 |  |  | 9,763 |  |  | 33,622 |
Balance, December 31, 2023 | $ | 1,101,495 |  |  | $ | 959,398 |  |  | $ | 2,060,893 |
(1) Includes purchase accounting adjustments associated with acquisitions discussed in Note 5, “Acquisitions”. The following table summarizes the Company’s Intangible assets, excluding Goodwill:
| Year Ended December 31,
| 2023 |  | 2022
| Gross Carrying Amount |  | Accumulated Amortization |  | Gross Carrying Amount |  | Accumulated Amortization
| (In thousands)
Definite-Lived Intangible Assets |  |  |  |  |  |  |
Acquired customer relationships | $ | 548,234 |  |  | $ | (279,757) |  |  | $ | 528,489 |  |  | $ | (215,962) |
Acquired technology | 632,801 |  |  | (184,216) |  |  | 553,284 |  |  | (134,967) |
Acquired trade names | 458,917 |  |  | (100,061) |  |  | 414,801 |  |  | (74,644) |
Software | 83,849 |  |  | (42,910) |  |  | 72,371 |  |  | (39,202) |
Other intangible assets | 16,335 |  |  | (5,829) |  |  | 9,917 |  |  | (3,360) |
| $ | 1,740,136 |  |  | $ | (612,773) |  |  | $ | 1,578,862 |  |  | $ | (468,135) |
Amortization expense related to acquired intangible assets, including acquired customer relationships, acquired technology, and acquired trade names, are presented on the face of the Consolidated Statements of Operations. Other intangible assets amortization expense consists primarily of amortization of software intangibles and is recorded as a component of Selling, general, and administrative expense in the Consolidated Statements of Operations. Total amortization expense is $140.2 million, $133.7 million, and $125.0 million for the years ended December 31, 2023, 2022 and 2021, respectively. See Note 2, “Summary of Significant Accounting Policies” for discussion regarding impairment of Intangible assets. Expected Amortization Expense The Company’s expected annual amortization expense for intangible assets for the next five years is as follows:
| December 31, 2023
| (In thousands)
2024 | $ | 145,822 |
2025 | 144,572 |
2026 | 139,483 |
2027 | 131,403 |
2028 | 96,556 |

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 350 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//350/tableOfContent + Details
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