Intangible Assets and Goodwill (Tables)

6 Months Ended

Jun. 30, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Summary of Intangible Assets

The following table presents the Company’s intangible assets at June 30, 2020 and December 31, 2019 (in thousands):

	June 30, 2020
	Gross Carrying Value		Accumulated Amortization		ASC 842 Adjustment		Total		Estimated useful life
Acquired intangible assets:
Developed product rights for Auryxia	$	213,603	$	(56,119)	—		$	157,484	7 years
Favorable lease	545		(5)		(540)		—		N/A
Total	$	214,148	$	(56,124)	$	(540)	$	157,484

	December 31, 2019
	Gross Carrying Value		Accumulated Amortization		ASC 842 Adjustment		Total		Estimated useful life
Acquired intangible assets:
Developed product rights for Auryxia	$	329,130	$	(37,918)	—		$	291,212	9 years
Favorable lease	545		(5)		(540)		—		N/A
Total	$	329,675	$	(37,923)	$	(540)	$	291,212

Schedule of Estimated Future Amortization Expense for Intangible Assets

Estimated future amortization expense for the intangible asset as of June 30, 2020 is as follows (in thousands):

	Total
2020	$	14,317
2021	28,633
2022	28,634
2023	28,633
2024	28,634
Thereafter	28,633
	$	157,484

Schedule of Goodwill

Goodwill was $55.1 million as of June 30, 2020 and December 31, 2019, derived as follows (in thousands):

Total Merger consideration	$	527,754
Less: Fair value of identified acquired assets and liabilities, net	(472,701)
Goodwill	$	55,053