Goodwill and Intangible Assets

6 Months Ended

Jun. 30, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets

Note 3—Goodwill and Intangible Assets

The following table summarizes the goodwill balances by segment and the changes in the carrying amount of goodwill at June 30, 2024:

			Products &
			Healthcare
	Patient Direct		Services		Consolidated
Carrying amount of goodwill, December 31, 2023	$	1,535,252	$	103,594	$	1,638,846
Currency translation adjustments		—		(4,123)		(4,123)
Carrying amount of goodwill, June 30, 2024	$	1,535,252	$	99,471	$	1,634,723

Intangible assets subject to amortization, which exclude indefinite-lived intangible assets at June 30, 2024 and December 31, 2023 were as follows:

	June 30, 2024						December 31, 2023
	Customer				Other		Customer				Other
	Relationships		Tradenames		Intangibles		Relationships		Tradenames		Intangibles
Gross intangible assets	$	396,763	$	202,000	$	73,055	$	433,750	$	202,000	$	73,958
Accumulated amortization		(222,098)		(79,434)		(46,113)		(236,791)		(69,655)		(41,427)
Net intangible assets	$	174,665	$	122,566	$	26,942	$	196,959	$	132,345	$	32,531
Weighted average useful life		14 years		10 years		6 years		13 years		10 years		6 years

At June 30, 2024 and December 31, 2023, $226 million and $250 million in net intangible assets were held in the Patient Direct segment and $100 million and $112 million were held in the Products & Healthcare Services segment. Amortization expense for intangible assets was $16.3 million and $20.9 million for the three months ended June 30, 2024 and 2023 and $36.5 million and $41.8 million for the six months ended June 30, 2024 and 2023.

As of June 30, 2024, based on the current carrying value of intangible assets subject to amortization, estimated amortization expense were as follows:

Year
2024 (remainder)	$	32,831
2025		54,296
2026		48,849
2027		41,594
2028		29,439
Thereafter		117,164
Total future amortization	$	324,173