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Goodwill and Intangible Assets, net | 12 Months Ended
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Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Intangible Assets, net | 4. Goodwill and Intangible Assets, net During the second quarter of 2022, the Company discontinued the sale of products that utilized the developed technology acquired from InstruNor and recorded a $3.5 million impairment charge to write-off the unamortized portion of the related intangible asset. The Company assessed goodwill for impairment when it performed its annual testing at the end of the fourth quarter of 2023. A qualitative approach was employed which included assessing significant events and circumstances such as the Company's current results, assumptions regarding future performance, strategic initiatives and overall macroeconomic factors to determine the existence of potential indicators of impairment and assess if it is more likely than not that the fair value of each of the Company's reporting units is less than their carrying value. The Company determined there was no impairment as of December 31, 2023. The changes in the carrying value of goodwill by segment are as follows (in thousands):
|  | Proteomics |  |  | Genomics |  |  | Total |
Balance as of December 31, 2022 |  | $ | 85,752 |  |  | $ | 20,499 |  |  | $ | 106,251 |
Foreign currency translation |  |  | 46 |  |  |  | 20 |  |  |  | 66 |
Balance as of December 31, 2023 |  | $ | 85,798 |  |  | $ | 20,519 |  |  | $ | 106,317 |
Intangible assets with finite lives include developed technology, patents and licenses. In the consolidated balance sheets, developed technology is reported separately while patents and licenses are reported in other non-current assets. Intangible assets, net, were as follows (in thousands):
|  | December 31, 2023
|  | Gross Amount |  |  | Accumulated Amortization and Impairment |  |  | Net |  |  | Weighted- Average Amortization Period
Developed technology |  | $ | 117,354 |  |  | $ | (115,954 | ) |  | $ | 1,400 |  |  | 10.0 years
Patents and licenses |  | $ | 11,250 |  |  | $ | (11,243 | ) |  | $ | 7 |  |  | 7.0 years
|  | December 31, 2022
|  | Gross Amount |  |  | Accumulated Amortization |  |  | Net |  |  | Weighted- Average Amortization Period
Developed technology |  | $ | 117,194 |  |  | $ | (104,594 | ) |  | $ | 12,600 |  |  | 10.0 years
Patents and licenses |  | $ | 11,247 |  |  | $ | (10,669 | ) |  | $ | 578 |  |  | 7.0 years
Total amortization expense of the Company's intangible assets was $11.8 million and $12.2 million for the years ended December 31, 2023 and 2022, respectively. The $3.5 million impairment charge for the InstruNor developed technology intangible asset was recorded in research and development expense in 2022 and it is reflected in accumulated amortization in the above table. Based on the net carrying value of intangible assets at December 31, 2023, the Company expects annual amortization expense to be as follows (in thousands):
Fiscal Year |  | Developed Technology Amortization Expense |  |  | Patents and Licenses Amortization Expense |  |  | Total |
2024 |  |  | 1,400 |  |  |  | 7 |  |  |  | 1,407 |
Total |  | $ | 1,400 |  |  | $ | 7 |  |  | $ | 1,407 |

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- Definition The entire disclosure for all or part of the information related to intangible assets. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//350-30/tableOfContent + Details
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