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Goodwill and Intangible Assets | 9 Months Ended
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Sep. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Intangible Assets | Goodwill and Intangible Assets The following table summarizes the carrying amounts of goodwill by segment at September 30, 2024 and December 31, 2023 (in thousands):
|  | September 30, 2024 |  | December 31, 2023
Clinical Services |  | $ | 458,782 |  |  | $ | 458,782 |
Advanced Diagnostics |  | 63,984 |  |  | 63,984 |
Total |  | $ | 522,766 |  |  | $ | 522,766 |
Intangible assets consisted of the following (in thousands):
|  |  |  | September 30, 2024
|  | Amortization Period (years) |  | Cost |  | Accumulated Amortization |  | Net
Customer Relationships |  | 7 - 15 |  | $ | 143,101 |  |  | $ | 72,951 |  |  | $ | 70,150 |
Developed Technology |  | 10 - 15 |  | 310,226 |  |  | 70,428 |  |  | 239,798 |
Marketing Assets |  | 4 |  | 549 |  |  | 480 |  |  | 69 |
Trademarks |  | 15 |  | 31,473 |  |  | 6,895 |  |  | 24,578 |
Trade Name |  | 2.5 |  | 2,584 |  |  | 2,584 |  |  | — |
Trademark - Indefinite lived |  | — |  | 13,447 |  |  | — |  |  | 13,447 |
Total |  |  |  | $ | 501,380 |  |  | $ | 153,338 |  |  | $ | 348,042 |
|  |  |  | December 31, 2023
|  | Amortization Period (years) |  | Cost |  | Accumulated Amortization |  | Net
Customer Relationships |  | 7 - 15 |  | $ | 143,101 |  |  | $ | 65,534 |  |  | $ | 77,567 |
Developed Technology |  | 10 - 15 |  | 310,226 |  |  | 54,438 |  |  | 255,788 |
Marketing Assets |  | 4 |  | 549 |  |  | 376 |  |  | 173 |
Trademarks |  | 15 |  | 31,473 |  |  | 5,321 |  |  | 26,152 |
Trade Name |  | 2.5 |  | 2,584 |  |  | 2,583 |  |  | 1 |
Trademark - Indefinite lived |  | — |  | 13,447 |  |  | — |  |  | 13,447 |
Total |  |  |  | $ | 501,380 |  |  | $ | 128,252 |  |  | $ | 373,128 |
The Company records amortization expense within cost of revenue and general and administrative expense on the Consolidated Statement of Operations. The following table summarizes the amortization expense for the three and nine months ended September 30, 2024 and 2023 (in thousands):
|  | Three Months Ended September 30, |  | Nine Months Ended September 30,
|  | 2024 |  | 2023 |  | 2024 |  | 2023
Amortization of intangibles included in cost of revenue |  | $ | 4,910 |  |  | $ | 4,853 |  |  | $ | 14,729 |  |  | $ | 14,560 |
Amortization of intangibles included in general and administrative expenses |  | 3,452 |  |  | 3,931 |  | 10,356 |  | 11,790
Total amortization of intangibles |  | $ | 8,362 |  |  | $ | 8,784 |  |  | $ | 25,085 |  |  | $ | 26,350 |
The estimated amortization expense related to amortizable intangible assets for each of the following periods as of September 30, 2024 is as follows (in thousands):
Remainder of 2024 | $ | 8,362 |
2025 | 33,343 |
2026 | 33,308 |
2027 | 32,758 |
2028 | 32,758 |
Thereafter | 194,066 |
Total | $ | 334,595 |

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-30/tableOfContent Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-20/tableOfContent + Details
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