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Intangible Assets and Goodwill (Tables)
12 Months Ended
Dec. 31, 2020
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, 2017

 

$

180,834

 

Additions during fiscal 2018

 

 

16,429

 

Impact of movement in exchange rates

 

 

(45

)

Amortization expense

 

 

(10,751

)

Intangible assets at December 31, 2018

 

 

186,467

 

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

 

 

198,261

 

Additions during fiscal 2020

 

 

12,675

 

Write offs

 

 

(41

)

Impact of movement in exchange rates

 

 

(637

)

Amortization expense

 

 

(12,744

)

Intangible assets at December 31, 2020

 

$

197,514

 

 

 

 

 

 

Goodwill at December 31, 2017

 

$

22,300

 

Additions during fiscal 2018

 

 

3,606

 

Goodwill at December 31, 2018

 

 

25,906

 

Additions during fiscal 2019

 

 

22,652

 

Impact of movement in exchange rates

 

 

(1,885

)

Goodwill at December 31, 2019

 

 

46,673

 

Additions during fiscal 2020

 

 

8,830

 

Other

 

 

617

 

Impact of movement in exchange rates

 

 

(4,012

)

Goodwill at December 31, 2020

 

$

52,108

 

 

 

 

 

 

Intangible assets and goodwill at December 31, 2020

 

$

249,622

 

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.

 

 

 

2020

 

 

2019

 

 

 

Gross

 

 

Accumulated

Amortization

 

 

Net Book

Value

 

 

Gross

 

 

Accumulated

Amortization

 

 

Net Book

Value

 

Product Rights

 

$

260,393

 

 

$

99,228

 

 

$

161,165

 

 

$

249,428

 

 

$

89,204

 

 

$

160,224

 

Trademarks

 

 

37,335

 

 

 

8,111

 

 

 

29,224

 

 

 

36,037

 

 

 

6,633

 

 

 

29,404

 

Customer Lists

 

 

11,539

 

 

 

4,414

 

 

 

7,125

 

 

 

12,028

 

 

 

3,395

 

 

 

8,633

 

Total intangibles assets

 

 

309,267

 

 

 

111,753

 

 

 

197,514

 

 

 

297,493

 

 

 

99,232

 

 

 

198,261

 

Goodwill

 

 

52,108

 

 

 

 

 

 

52,108

 

 

 

46,673

 

 

 

 

 

 

46,673

 

Total intangibles and goodwill

 

$

361,375

 

 

$

111,753

 

 

$

249,622

 

 

$

344,166

 

 

$

99,232

 

 

$

244,934

 

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

 

2021

 

$

12,838

 

2022

 

 

12,717

 

2023

 

 

12,207

 

2024

 

 

11,909

 

2025

 

 

11,727

 

Thereafter

 

 

136,116

 

 

 

$

197,514

 

Schedule of Company's Contingent Consideration Liability Under Acquisitions Agreements

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

 

 

 

Amount

 

Obligations under acquisition agreements at December 31, 2017

 

$

11,334

 

Adjustment to contingent consideration within the measurement period

 

 

(1,697

)

Reassessment of contingent 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

 

 

1,312

 

Reassessment of contingent consideration

 

 

(3,866

)

Accretion of discounted liabilities

 

 

28

 

Foreign exchange effect

 

 

(96

)

Obligations under acquisition agreements at December 31, 2019

 

 

1,244

 

Additional obligations acquired

 

 

2,044

 

Reassessment of contingent consideration

 

 

250

 

Accretion of discounted liabilities

 

 

16

 

Payments on existing obligations

 

 

(1,227

)

Foreign exchange effect

 

 

141

 

Obligations under acquisition agreements at December 31, 2020

 

$

2,468

 

Schedule of Deferred Consideration

Amounts of deferred consideration recognized in the consolidated balance sheets.

 

December 31,

2020

 

 

December 31,

2019

 

Short-term

$

1,004

 

 

$

1,244

 

Long-term

 

1,464

 

 

 

 

Total contingent consideration

$

2,468

 

 

$

1,244