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Goodwill and Intangible Assets
 12 Months Ended
Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Intangible Assets GOODWILL AND INTANGIBLE ASSETS
Goodwill
    
Changes in the carrying amount of goodwill, by reportable segment, were as follows (in millions):
CSCA(1)
CSCI(2)
Total
Balance at December 31, 2021$1,902.4 $1,097.0 $2,999.4 
Business acquisitions141.7 417.8 559.5 
Currency translation adjustments0.3 (68.8)(68.5)
Balance at December 31, 20222,044.4 1,446.0 3,490.4 
Impairments— (90.0)(90.0)
Purchase accounting adjustments 35.2 45.4 80.6 
Currency translation adjustments1.3 46.8 48.1 
Balance at December 31, 2023$2,080.9 $1,448.2 $3,529.1 

(1) We had accumulated goodwill impairments of $6.1 million as of December 31, 2023.
(2) We had accumulated goodwill impairments of $968.4 million and $878.4 million as of December 31, 2023 and December 31, 2022, respectively.

As of December 31, 2023, we have three reporting units. Our CSCA operating segment is equivalent to our CSCA reporting unit. Our CSCI operating segment includes two reporting units, CSCI and Rare Diseases.

During the three months ended December 31, 2023, we tested our Rare Diseases reporting unit for impairment in response to identified impairment indicators. Market information specific to the reporting unit became available during the fourth quarter requiring additional consideration to the valuation methods utilized. As a result, we determined goodwill related to the reporting unit was impaired by $90.0 million and recorded the charge within our CSCI segment.

In conjunction with our 2021 annual impairment test, during the three months ended December 31, 2021, we recorded an impairment charge in our Oral Care International reporting unit within our CSCI segment of $10.0 million. The change in fair value from previous estimates was driven by reduced projections of future cash flows resulting from increased costs throughout the global supply chain (refer to Note 10).
Intangible Assets

Intangible assets and the related accumulated amortization consisted of the following (in millions):
Year Ended
 December 31, 2023December 31, 2022
 GrossAccumulated AmortizationGrossAccumulated Amortization
Indefinite-lived intangibles:(1)
Trademarks, trade names, and brands$3.4 $— $3.2 $— 
In-process research and development1.9 — 55.4 — 
Total indefinite-lived intangibles$5.3 $— $58.6 $— 
Definite-lived intangibles:
Distribution and license agreements and supply agreements$90.8 $57.5 $94.9 $58.1 
Developed product technology, formulations, and product rights534.0 238.4 484.8 211.8 
Customer relationships and distribution networks1,868.1 1,108.9 1,825.1 965.9 
Trademarks, trade names, and brands2,502.0 609.3 2,542.2 481.0 
Non-compete agreements2.1 2.1 2.0 2.0 
Total definite-lived intangibles$4,997.0 $2,016.2 $4,949.0 $1,718.8 
Total intangible assets$5,002.3 $2,016.2 $5,007.6 $1,718.8 
(1) Certain intangible assets are denominated in currencies other than U.S. dollar; therefore, their gross and net carrying values are subject to foreign currency movements.

On March 17, 2022, we announced that we received final approval from the U.S. Food and Drug Administration for the over-the-counter use of Nasonex®24HR Allergy (mometasone furoate monohydrate 50mcg). The approval triggered a $10.0 million milestone payment to the licensor, which was made in the second quarter of 2022 and capitalized as a definite-lived intangible asset.

On July 13, 2023, we announced that we received final approval from the U.S. Food and Drug Administration for Opill®, a progestin-only daily oral contraceptive, for over-the-counter (OTC) use for all ages. As a result, the Opill® in-process research and development (“IPR&D”), acquired through the 2022 acquisition of HRA Pharma, has been reclassified from indefinite-lived to finite-lived intangible asset in the third quarter subsequent to a fair value analysis.

We recorded an impairment charge of $0.9 million on certain IPR&D assets during the year ended December 31, 2021 due to changes in the projected development and regulatory timelines for various projects. We did not record any impairment charges in 2023 or 2022.

The remaining weighted-average useful life for our amortizable intangible assets by asset class at December 31, 2023 was as follows:
Amortizable Intangible Asset Category Remaining Weighted-Average Useful Life (Years)
Distribution and license agreements and supply agreements14
Developed product technology, formulations, and product rights11
Customer relationships and distribution networks 14
Trademarks, trade names, and brands 16
Non-compete agreements0

We recorded amortization expense of $265.8 million, $252.4 million, and $210.0 million during the years ended December 31, 2023, December 31, 2022, and December 31, 2021, respectively.
Our estimated future amortization expense is as follows (in millions):
YearAmount
2024$239.8 
2025233.6 
2026226.0 
2027220.3 
2028214.4 
Thereafter1,846.7