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Goodwill And Other Intangible Assets

12 Months Ended

Dec. 31, 2020

Goodwill and Intangible Assets

Goodwill and Intangible Assets

Note 8. Goodwill and Intangible Assets

Goodwill

The following table represents the changes in the carrying value of goodwill for the years ended December 31, 2020 and 2019 (in thousands):

​	​	​	​	​	​	​
​		December 31			December 31,
​	​	2020		​	2019
Balance at beginning of year	​	$	11,000	​	$	—
Goodwill related to Cryogene acquisition	​		—	​		11,000
Goodwill related to MVE acquisition	​		107,504	​		—
Goodwill related to CRYOPDP acquisition	​		26,778	​		—
Balance at end of year	​	$	145,282	​	$	11,000

​

Intangible Assets

The following table presents our intangible assets as of December 31, 2020 (in thousands):

​

​	​	​	​	​	​	​	​	​	​	​	​
​	​	​	​	​	​	​	​	​	​	​	Weighted
​	​	​	​	​	​	​	​	Net		​	Average
​	​	Gross		​	Accumulated		​	Carrying		​	Amortization
​		Amount			Amortization			Amount			Period (years)
Non-compete agreement	​	$	390	​	$	123	​	$	267		3
Technology	​	​	34,245	​	​	1,630	​	​	32,615	​	11
Customer relationships	​	​	128,640	​	​	2,708	​	​	125,932	​	14
Cryogene trade name/trademark	​	​	480	​	​	51	​	​	429	​	13
CRYOPDP agent network	​	​	8,597	​	​	537	​	​	8,060	​	4
MVE Order backlog	​	​	2,600	​	​	2,600	​	​	—	​	—
MVE land use rights	​	​	2,378	​	​	16	​	​	2,362	​	37
Patents and trademarks	​	​	44,312	​	​	69	​	​	44,243	​	—
Total	​	$	221,642	​	$	7,734	​	$	213,908	​	​

​

The following table presents our intangible assets as of December 31, 2019 (in thousands):

​

​	​	​	​	​	​	​	​	​	​	​	​
​	​	​	​	​	​	​	​	​	​	​	Weighted
​	​	​	​	​	​	​	​	Net		​	Average
​	​	Gross		​	Accumulated		​	Carrying		​	Amortization
​		Amount			Amortization			Amount			Period (years)
Non-compete agreement	​	$	390	​	$	45	​	$	345		5
Technology	​	​	510	​	​	59	​	​	451	​	5
Customer relationships	​	​	3,900	​	​	190	​	​	3,710	​	12
Cryogene trade name/trademark	​	​	480	​	​	19	​	​	461	​	15
Cryoport patents and trademarks	​	​	258	​	​	47	​	​	211		—
Total	​	$	5,538	​	$	360	​	$	5,178	​	​

​

Amortization expense for intangible assets for the years ended December 31, 2020 and 2019 was $6.6 million and $0.3 million, respectively.

​

Expected future amortization of intangible assets as of December 31, 2020 is as follows (in thousands):

​

​	​	​	​
Years Ending December 31,		Amount
2021	​		14,438
2022	​		14,438
2023	​		14,438
2024	​		13,795
2025	​		12,108
Thereafter	​		100,124
​	​	$	169,341

​

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- References

No definition available.

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- Definition

The entire disclosure for all or part of the information related to intangible assets.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-URI http://asc.fasb.org/topic&trid=2144416

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