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Intangible Assets and Goodwill (Tables)
12 Months Ended
Dec. 31, 2019
Business Combinations [Abstract]  
Schedule of Intangible Assets Recognized in Connection with Product Acquisitions

The following schedule represents intangible assets recognized in connection with product acquisitions (See description of Business, Basis of Consolidation and Significant Accounting Policies for the Company’s accounting policy regarding intangible assets):

 

 

 

Amount

 

Intangible assets at December 31, 2016

 

$

121,433

 

Additions during fiscal 2017

 

 

68,327

 

Impact of movement in exchange rates

 

 

(6

)

Amortization expense

 

 

(8,804

)

Intangible assets at December 31, 2017

 

 

180,950

 

Additions during fiscal 2018

 

 

16,429

 

Impact of movement in exchange rates

 

 

(45

)

Amortization expense

 

 

(10,751

)

Intangible assets at December 31, 2018

 

 

186,583

 

Additions during fiscal 2019

 

 

25,368

 

Write offs

 

 

(264

)

Impact of movement in exchange rates

 

 

(1,158

)

Amortization expense

 

 

(12,152

)

Intangible assets at December 31, 2019

 

$

198,377

 

 

 

 

 

 

Goodwill at December 31, 2018

 

$

25,790

 

Net additions during fiscal 2019

 

 

22,652

 

Impact of movement in exchange rates

 

 

(1,885

)

Goodwill at December 31, 2019

 

$

46,557

 

 

 

 

 

 

Intangible assets and goodwill at December 31, 2019

 

$

244,934

 

Schedule of Gross Carrying Amount and Accumulated Amortization of Intangible Assets and Goodwill

The following schedule represents the gross carrying amount and accumulated amortization of intangible assets and goodwill. Product rights and trademarks are amortized over their expected useful lives of 25 years. Customer lists are amortized over their expected useful lives of nine to ten years.

 

 

 

2019

 

 

2018

 

 

 

Gross

 

 

Accumulated

Amortization

 

 

Net Book

Value

 

 

Gross

 

 

Accumulated

Amortization

 

 

Net Book

Value

 

Product Rights

 

$

252,786

 

 

$

89,204

 

 

$

163,582

 

 

$

235,684

 

 

$

79,627

 

 

$

156,057

 

Trademarks

 

 

32,795

 

 

 

6,633

 

 

 

26,162

 

 

 

30,483

 

 

 

5,337

 

 

 

25,146

 

Customer Lists

 

 

12,028

 

 

 

3,395

 

 

 

8,633

 

 

 

7,529

 

 

 

2,149

 

 

 

5,380

 

Total intangibles assets

 

 

297,609

 

 

 

99,232

 

 

 

198,377

 

 

 

273,696

 

 

 

87,113

 

 

 

186,583

 

Goodwill

 

 

46,557

 

 

 

 

 

 

46,557

 

 

 

25,790

 

 

 

 

 

 

25,790

 

Total intangibles and goodwill

 

$

344,166

 

 

$

99,232

 

 

$

244,934

 

 

$

299,486

 

 

$

87,113

 

 

$

212,373

 

Schedule of Future Amortization Charges Related to Intangible Assets

The following schedule represents future amortization charges related to intangible assets:

 

Year ending December 31,

 

Amount

 

2020

 

$

12,768

 

2021

 

 

12,619

 

2022

 

 

12,498

 

2023

 

 

11,988

 

2024

 

 

11,690

 

Thereafter

 

 

136,814

 

 

 

$

198,377

 

Schedule of Company's Deferred Consideration Liability Under Acquisitions Agreements

The following schedule represents the Company’s deferred consideration liability under acquisitions agreements:

 

 

 

Amount

 

Obligations under acquisition agreements at December 31, 2016

 

$

592

 

Additional obligations acquired

 

 

10,659

 

Accretion of discounted liabilities

 

 

109

 

Payments on existing obligations

 

 

(26

)

Obligations under acquisition agreements at December 31, 2017

 

 

11,334

 

Adjustment to deferred consideration within the measurement period

 

 

(1,697

)

Reassessment of deferred consideration

 

 

(6,050

)

Accretion of discounted liabilities

 

 

345

 

Payments on existing obligations

 

 

(66

)

Obligations under acquisition agreements at December 31, 2018

 

 

3,866

 

Additional obligations acquired

 

 

3,051

 

Reassessment of deferred consideration

 

 

(4,120

)

Accretion of discounted liabilities

 

 

72

 

Payments on existing obligations

 

 

(850

)

Foreign exchange effect

 

 

(229

)

Obligations under acquisition agreements at December 31, 2019

 

$

1,790