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Goodwill and Intangible Assets (Tables)
12 Months Ended
Dec. 31, 2022
Goodwill and Intangible Assets  
Schedule of goodwill

The following table represents the changes in the carrying value of goodwill for the years ended December 31, 2022 and 2021 (in thousands):

December 31,

December 31,

    

2022

    

2021

Balance at beginning of year

$

146,954

$

145,282

Foreign currency adjustment

(5,391)

(419)

Goodwill related to MVE acquisition

 

 

483

Goodwill related to CRYOPDP acquisition

 

 

(828)

Goodwill related to CTSA and F-airGate acquisitions

 

6

 

2,436

Goodwill related to Cell&Co acquisition

2,785

Goodwill related to Polar Expres acquisition

1,828

Goodwill related to Cell Matters acquisition

4,935

Balance at end of year

$

151,117

$

146,954

Schedule of intangible assets

The following table presents our intangible assets as of December 31, 2022 (in thousands):

Weighted

Net

Average

Gross

Accumulated

Carrying

Amortization

    

Amount

    

Amortization

    

Amount

    

Period (years)

Non-compete agreement

$

390

$

280

$

110

 

1

Technology

36,592

8,056

28,536

9

Customer relationships

131,716

21,254

110,462

12

Trade name/trademark

820

158

662

13

Agent network

11,667

6,199

5,468

2

Order backlog

2,600

2,600

Land use rights

2,378

257

2,121

35

Patents and trademarks

45,181

1,531

43,650

Total

$

231,344

$

40,335

$

191,009

The following table presents our intangible assets as of December 31, 2021 (in thousands):

Weighted

Net

Average

Gross

Accumulated

Carrying

Amortization

    

Amount

    

Amortization

    

Amount

    

Period (years)

Non-compete agreement

$

390

$

201

$

189

 

2

Technology

35,116

4,790

30,326

10

Customer relationships

128,593

11,725

116,868

13

Trade name/trademark

510

112

398

12

Agent network

10,686

3,047

7,639

3

Order backlog

2,600

2,600

Land use rights

2,378

7

2,371

36

Patents and trademarks

44,566

930

43,636

 

Total

$

224,839

$

23,412

$

201,427

Schedule of expected future amortization of intangible assets

Expected future amortization of intangible assets as of December 31, 2022 is as follows (in thousands):

Years Ending December 31, 

    

Amount

2023

 

15,269

2024

 

14,663

2025

 

12,739

2026

 

12,486

2027

 

12,261

Thereafter

 

78,027

$

145,445