Goodwill and Intangible Assets (Tables)

9 Months Ended

Sep. 30, 2022

Changes in Carrying Value of Goodwill

The following table represents the change in the carrying value of goodwill for the nine months ended September 30, 2022 (amounts in thousands):

Balance at December 31, 2021	$	860,362
Measurement period adjustment - BioFlex		(376	)
Measurement period adjustment - Avitide		(1,768	)
Cumulative translation adjustment		(6,812	)
Balance at September 30, 2022	$	851,406

Intangible assets

Intangible assets, net consisted of the following at September 30, 2022:

	September 30, 2022
	Gross Carrying Value		Accumulated Amortization			Net Carrying Value		Weighted Average Useful Life (in years)
	(Amounts in thousands)
Finite-lived intangible assets:
Technology - developed(1)	$	189,627	$	(27,864	)	$	161,763		16
Patents		240		(240	)		—		8
Customer relationships		251,482		(61,681	)		189,801		15
Trademarks		7,658		(1,202	)		6,456		19
Other intangibles		2,772		(1,932	)		840		4
Total finite-lived intangible assets		451,779		(92,919	)		358,860		16
Indefinite-lived intangible asset:
Trademarks		700		—			700		—
Total intangible assets	$	452,479	$	(92,919	)	$	359,560

(1)Includes an upfront payment paid to DRS Daylight Solutions, Inc. ("Daylight") in September 2022 to exclusively license and commercialize rights to use certain technology and intellectual property which Daylight owns. The expected useful life of this technology is 15 years, which is the term of the Agreement and the period the Company expects to be able to utilize the license and which the technology will contribute directly to cash flows. See Note 9, "Commitments and Contingencies" for more information on this transaction.

Intangible assets consisted of the following at December 31, 2021:

	December 31, 2021
	Gross Carrying Value		Accumulated Amortization			Net Carrying Value		Weighted Average Useful Life (in years)
	(Amounts in thousands)
Finite-lived intangible assets:
Technology - developed	$	146,097	$	(21,553	)	$	124,544		17
Patents		240		(240	)		—		8
Customer relationships		254,699		(50,719	)		203,980		15
Trademarks		7,699		(877	)		6,822		19
Other intangibles		2,839		(1,611	)		1,228		4
Total finite-lived intangible assets		411,574		(75,000	)		336,574		16
Indefinite-lived intangible asset:
Trademarks		700		—			700		—
Total intangible assets	$	412,274	$	(75,000	)	$	337,274

Schedule of Amortization Expense for Amortized Intangible Assets

As of September 30, 2022, the Company expects to record the following amortization expense in future periods (amounts in thousands):

	Estimated
	Amortization
For the Years Ended December 31,	Expense
2022 (remaining three months)	$	7,316
2023		29,145
2024		28,559
2025		28,220
2026		28,220
2027 and thereafter		237,400
Total	$	358,860