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GOODWILL AND OTHER INTANGIBLE ASSETS | 9 Months Ended
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Sep. 30, 2020
Goodwill and Intangible Assets Disclosure [Abstract] |
GOODWILL AND OTHER INTANGIBLE ASSETS | GOODWILL AND OTHER INTANGIBLE ASSETS Goodwill Changes in the carrying amount of goodwill for the nine-month period ended September 30, 2020 were as follows:
| Codman Specialty Surgical |  | Orthopedics and Tissue Technologies |  | Total
| (In thousands)
Goodwill at December 31, 2019 | $ | 653,500 |  |  | $ | 300,780 |  |  | $ | 954,280 |
Transfer to assets held for sale (See Note 2. Assets Held for Sale) | — |  |  | (47,117 | ) |  | (47,117 | )
Foreign currency translation | 8,928 |  |  | 3,465 |  |  | 12,393 |
Goodwill at September 30, 2020 | $ | 662,428 |  |  | $ | 257,128 |  |  | $ | 919,556 |
The components of the Company’s identifiable intangible assets were as follows:
| September 30, 2020
| Weighted Average Life |  | Cost |  | Accumulated Amortization |  | Net
| (Dollars in thousands)
Completed technology | 19 years |  | $ | 891,554 |  |  | $ | (250,609 | ) |  | $ | 640,945 |
Customer relationships | 12 years |  | 223,512 |  |  | (138,989 | ) |  | 84,523 |
Trademarks/brand names | 28 years |  | 104,404 |  |  | (31,425 | ) |  | 72,979 |
Codman tradename | Indefinite |  | 167,013 |  |  | — |  |  | 167,013 |
Supplier relationships | 27 years |  | 34,721 |  |  | (19,018 | ) |  | 15,703 |
All other(1) | 4 years |  | 11,101 |  |  | (5,247 | ) |  | 5,854 |
Transfer to assets held for sale (See Note 2. Assets Held for Sale) |  |  | (39,821 | ) |  | 26,489 |  |  | (13,332 | )
|  |  | $ | 1,392,484 |  |  | $ | (418,799 | ) |  | $ | 973,685 |
| December 31, 2019
| Weighted Average Life |  | Cost |  | Accumulated Amortization |  | Net
| (Dollars in thousands)
Completed technology | 19 years |  | $ | 880,623 |  |  | $ | (213,702 | ) |  | $ | 666,921 |
Customer relationships | 12 years |  | 222,575 |  |  | (119,393 | ) |  | 103,182 |
Trademarks/brand names | 28 years |  | 103,873 |  |  | (28,514 | ) |  | 75,359 |
Codman tradename | Indefinite |  | 163,126 |  |  | — |  |  | 163,126 |
Supplier relationships | 27 years |  | 34,721 |  |  | (17,947 | ) |  | 16,774 |
All other (1) | 4 years |  | 10,869 |  |  | (4,640 | ) |  | 6,229 |
|  |  | $ | 1,415,787 |  |  | $ | (384,196 | ) |  | $ | 1,031,591 |
(1) | At September 30, 2020 and December 31, 2019, all other included IPR&D of $1.0 million, which was indefinite-lived. At September 30, 2020, this IPR&D asset was presented separately as "assets held for sale" in conjunction with the sale of the Extremity Orthopedics business which is expected to be sold within twelve months. See Note 2, Assets and Liabilities Held for Sale, for details.
Goodwill and Intangible Assets with Indefinite Lives The Company tests goodwill and intangible assets with indefinite lives for impairment annually in the third quarter in accordance with ASC Topic 350. Additionally, the Company may perform interim tests if an event occurs or circumstances change that could potentially reduce the fair value of a reporting unit or indefinite lived intangible asset below its carrying amount. The carrying value of each reporting unit is determined by assigning the assets and liabilities, including the existing goodwill and intangible assets, to those reporting units. The Company tests goodwill for impairment by either performing a qualitative evaluation or a quantitative test. The qualitative evaluation is an assessment of factors, including reporting unit specific operating results as well as industry, market and general economic conditions, to determine whether it is more likely than not that the fair values of a reporting unit is less than its carrying amount, including goodwill. The Company may elect to bypass this qualitative evaluation for some or all of its reporting units and perform a quantitative test. During the third quarter of 2020, the Company began with the qualitative evaluation, which was sufficient to find no impairment. For intangible assets with indefinite lives, the Company elected to bypass the qualitative evaluation for its Codman tradename intangible asset and perform a quantitative test during the third quarter 2020. In performing this test, the Company utilized a discount rate of 11.5%. The assumptions used in evaluating the Codman tradename for impairment are subject to change and are tracked against historical results by management. Based on the results of the quantitative test, the Company recorded no impairment to the Codman tradename intangible asset. Based on quarter-end exchange rates, amortization expense (including amounts reported in cost of product revenues) is expected to be approximately $15.7 million for the remainder of 2020, $62.1 million in 2021, $59.7 million in 2022, $58.9 million in 2023, $58.4 million in 2024, $58.4 million in 2025 and $494.9 million thereafter.

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