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GOODWILL AND INTANGIBLE ASSETS | 6 Months Ended
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Jun. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract] |
GOODWILL AND INTANGIBLE ASSETS | GOODWILL AND INTANGIBLE ASSETS Goodwill The Company’s goodwill results from the acquisition of Pacira Pharmaceuticals, Inc. (the Company’s California operating subsidiary) from SkyePharma Holding, Inc., or Skyepharma, (now a subsidiary of Vectura Group plc) in 2007 (the “Skyepharma Acquisition”), the MyoScience Acquisition in 2019 and the Flexion Acquisition in 2021. The balance at each of June 30, 2023 and December 31, 2022 was $163.2 million. The Skyepharma Acquisition occurred in March 2007, prior to the requirements to record contingent consideration at fair value under ASC 805-30. In connection with the Skyepharma Acquisition, the Company agreed to certain milestone payments for DepoBupivacaine products, including EXPAREL. The final Skyepharma milestone payment of $32.0 million when annual net sales collected reached $500.0 million was achieved in the fourth quarter of 2021 and paid during the first quarter of 2022. Intangible Assets Intangible assets, net, consists of the in-process research and development, or IPR&D, and developed technology from the Flexion Acquisition and developed technology and customer relationships from the MyoScience Acquisition and are summarized as follows (dollar amounts in thousands):
June 30, 2023 |  | Gross Carrying Value |  | Accumulated Amortization |  | Intangible Assets, Net |  | Weighted-Average Useful Lives
Developed technologies |  | $ | 590,000 |  |  | $ | (113,016) |  |  | $ | 476,984 |  |  | 10 years, 5 months
Customer relationships |  | 90 |  |  | (38) |  |  | 52 |  |  | 10 years
Total finite-lived intangible assets, net |  | 590,090 |  |  | (113,054) |  |  | 477,036 |  |  |
Acquired IPR&D |  | 34,866 |  |  | — |  |  | 34,866 |  |  |
Total intangible assets, net |  | $ | 624,956 |  |  | $ | (113,054) |  |  | $ | 511,902 |  |  |
December 31, 2022 |  | Gross Carrying Value |  | Accumulated Amortization |  | Intangible Assets, Net |  | Weighted-Average Useful Lives
Developed technologies |  | $ | 590,000 |  |  | $ | (84,376) |  |  | $ | 505,624 |  |  | 10 years, 5 months
Customer relationships |  | 90 |  |  | (34) |  |  | 56 |  |  | 10 years
Total finite-lived intangible assets, net |  | 590,090 |  |  | (84,410) |  |  | 505,680 |  |  |
Acquired IPR&D |  | 34,866 |  |  | — |  |  | 34,866 |  |  |
Total intangible assets, net |  | $ | 624,956 |  |  | $ | (84,410) |  |  | $ | 540,546 |  |  |
Amortization expense on intangible assets was $14.3 million for both the three months ended June 30, 2023 and 2022. Amortization expense on intangible assets was $28.6 million for both the six months ended June 30, 2023 and 2022. Assuming no changes in the gross carrying amount of these intangible assets, the future estimated amortization expense on the finite-lived intangible assets will be $28.6 million for the remaining six months of 2023, $57.3 million each year from 2024 to 2030, $37.4 million in 2031, $7.9 million in 2032 and $2.2 million in 2033.

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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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