Goodwill and Intangible Assets

3 Months Ended

Mar. 31, 2017

Goodwill and Intangible Assets Disclosure [Abstract]

GOODWILL AND INTANGIBLE ASSETS

The change in the carrying amount of goodwill by reporting unit for the three months ended March 31, 2017 was as follows (in thousands).



	U.S. Medical		International Medical		Total
Balance as of December 31, 2016	$	130,410	$	18,401	$	148,811
Impact of changes in foreign currency and other	—		153		153
Balance as of March 31, 2017	$	130,410	$	18,554	$	148,964

Goodwill is allocated to the Company’s reporting units based on an analysis of both the relative historical and expected benefits. Goodwill denominated in foreign currencies within International Medical is remeasured in U.S. dollars at the applicable period-end exchange rate. There have been no events or circumstances since the last analysis as of December 31, 2016 to indicate that the amount of goodwill may not be recoverable.

Acquired intangible assets consisted of the following (in thousands):



	March 31, 2017			December 31, 2016
Acquired as part of Stellarex acquisition: (1)
In-process research and development	$	13,680		$	13,680
Technology	9,000			9,000
Trademark and trade names	400			400
Transition services agreement	530			530
Acquired as part of AngioScore acquisition: (2)
Technology	73,510			73,510
Customer relationships	23,320			23,320
Trademark and trade names	4,380			4,380
In-process research and development	1,254			1,254
Distributor relationships	1,940			1,940
Non-compete agreements	580			580
Acquired as part of Upstream acquisition (3)
Technology	2,172			2,172
Non-compete agreement	200			200
Patents	530			530
Less: accumulated amortization	(36,186		)	(33,267		)
	$	95,310		$	98,229

___________________


(1)	In January 2015, the Company acquired Stellarex DCB assets, which included, among other things, the intellectual property, machinery and equipment, and inventories used in connection with the Stellarex DCB catheter.


(2)	In June 2014, the Company acquired AngioScore, Inc.


(3)	In January 2013, the Company acquired certain product lines from Upstream Peripheral Technologies Ltd. (“Upstream”). As part of the acquisition, the Company acquired core technology intangible assets and an intangible asset related to non-compete agreements.

- Definition

The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss.

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