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Intangibles, Net
3 Months Ended
Mar. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]  
Intangibles, Net Intangibles, Net
Intangibles, net, consisted of the following:
March 31, 2023
(in thousands)Useful Lives
(in years)
Amortization MethodCostAccumulated AmortizationNet
Trademarks
15 - 25
Straight-Line$13,540 $(12,106)$1,434 
Customer relationships
5 - 25
Accelerated144,365 (97,994)46,371 
Currently marketed products
9
Straight-Line132,800 (27,211)105,589 
Licenses
11 - 16
Straight-Line85,800 (20,987)64,813 
Developed technology9Straight-Line2,400 (744)1,656 
   Total$378,905 $(159,042)$219,863 


December 31, 2022
(in thousands)Useful Lives
(in years)
Amortization MethodCostAccumulated AmortizationNet
Trademarks
15 - 25
Straight-Line$13,540 $(12,061)$1,479 
Customer relationships
15 - 25
Accelerated96,681 (95,009)1,672 
Currently marketed products
9 - 15
Straight-Line275,700 (47,628)228,072 
Licenses
11 - 16
Straight-Line85,800 (19,101)66,699 
Developed technology9Straight-Line2,400 (677)1,723 
IPR&DN/AN/A15,640 — 15,640 
   Total$489,761 $(174,476)$315,285 
The Company recorded amortization expense for its intangible assets of $11.1 million and $8.3 million for the three months ended March 31, 2023 and 2022, respectively.
In March 2023, the Company stopped all development activities in relation to a future indication associated with AZEDRA, which is classified as an in process research and development (“IPR&D”) intangible asset. The Company did not identify any alternative future uses or development programs for the asset, therefore the asset group, which consists of the IPR&D asset and a currently marketed product, was assessed for impairment as of March 31, 2023. The Company considered several factors including market share, price and competitive product offerings in evaluating the quantitative impact of the future cash flows. The Company concluded that the carrying amount exceeded the fair value of the asset group of zero. Accordingly, in the three months ended March 31, 2023, the Company recorded a non-cash impairment charge associated with the IPR&D asset of $15.6 million in research and development expenses and a non-cash impairment charge of $116.4 million in cost of goods sold in the condensed consolidated statements of operations.
The below table summarizes the estimated aggregate amortization expense expected to be recognized on the above intangible assets:
(in thousands)Amount
Remainder of 2023$31,616 
202437,850 
202529,223 
202629,844 
202725,533 
2028 and thereafter65,797 
   Total$219,863