GOODWILL AND INTANGIBLE ASSETS

3 Months Ended

Mar. 31, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill

Changes in the carrying amount of goodwill for the three months ended March 31, 2022 were as follows:


	Total



Goodwill at January 1, 2022	$	72,349



Foreign currency translation impact	(1,362)
Goodwill at March 31, 2022	$	70,987

Intangible Assets

As of March 31, 2022, the balances of amortizable intangible assets were as follows:


	Weighted-Average Amortization Period	Gross Intangible Assets		Accumulated Amortization		Net Intangible Assets
Patents	13.5 years	$	43,656	$	(6,287)	$	37,369
Intellectual Property	9.8 years	9,834		(1,584)		8,250
License Agreements	5.2 years	10,674		(2,817)		7,857
Total amortizable assets		$	64,164	$	(10,688)	$	53,476

As of December 31, 2021, the balances of amortizable intangible assets were as follows:


	Weighted-Average Amortization Period	Gross Intangible Assets		Accumulated Amortization		Net Intangible Assets
Patents	13.7 years	$	44,493	$	(5,664)	$	38,829
Intellectual Property	10.1 years	9,847		(1408)		8,439
License Agreements	5.5 years	10,674		(2,448)		8,226
Total amortizable assets		$	65,014	$	(9,520)	$	55,494

Licenses are tied to product launches and do not begin amortizing until the product is launched to the market.

Trademarks are non-amortizing intangible assets which were $14,040 and $14,268 as of March 31, 2022 and December 31, 2021, respectively. Trademarks are recorded in Other Intangible assets on the condensed consolidated balance sheets. The change in balance during the three months ended March 31, 2022 was the result of foreign currency translation of the ApiFix trademark.