Quarterly report pursuant to Section 13 or 15(d)

Goodwill and Intangible Assets (Tables)

v3.24.3
Goodwill and Intangible Assets (Tables)
 9 Months Ended
Sep. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Goodwill
The following table shows changes in the carrying amount of goodwill by reportable segment as of September 30, 2024 and December 31, 2023 (in millions):
Medical Technologies Consolidated
Balance—December 31, 2023 $ 633.4  $ 814.2  $ 1,447.6 
Measurement period adjustment 1.4  —  1.4 
Goodwill reclassified as assets held for sale (0.7) —  (0.7)
Translation adjustment —  4.3  4.3 
Balance—September 30, 2024 $ 634.1  $ 818.5  $ 1,452.6 
Gross carrying amounts and cumulative goodwill impairment losses are as follows (in millions):
September 30, 2024 December 31, 2023
Gross Carrying Amount Cumulative Impairment Gross Carrying Amount Cumulative Impairment
Goodwill $ 1,664.4  $ (211.8) $ 1,659.4  $ (211.8)
Schedule of Finite-Lived Intangible Assets A summary of intangible assets useful lives, gross carrying value and related accumulated amortization is below (in millions):
September 30, 2024
Original Average
 Life in Years		 Gross Carrying
 Amount		 Accumulated
 Amortization		 Net Book
 Value
Customer relationships
6 - 13
 $ 340.7  $ (182.0) $ 158.7 
Distributor relationships
7 - 13
 61.0  (21.4) 39.6 
Developed technology
5 - 16
 265.5  (93.8) 171.7 
Trade names
3 - 10
 100.0  (29.7) 70.3 
Backlog and other
1 - 4
 76.4  (69.4) 7.0 
Total $ 843.6  $ (396.3) $ 447.3 
December 31, 2023
Original Average
 Life in Years		 Gross Carrying
 Amount		 Accumulated
 Amortization 		Net Book
 Value
Customer relationships
6 - 13
 $ 340.8  $ (143.1) $ 197.7 
Distributor relationships
7 - 13
 60.9  (16.0) 44.9 
Developed technology
5 - 16
 264.1  (67.8) 196.3 
Trade names
3 - 10
 99.7  (22.1) 77.6 
Backlog and other
1 - 4
 76.0  (53.7) 22.3 
Total $ 841.5  $ (302.7) $ 538.8 
Schedule of Finite-lived Intangible Assets Amortization Expense
Aggregate amortization expense for intangible assets included in cost of revenues and operating expenses was as follows (in millions):
Three Months Ended September 30, Three Months Ended September 30, Nine Months Ended September 30, Nine Months Ended September 30,
2024 2023 2024 2023
Amortization expense for intangible assets in:
Cost of revenues $ 6.8  $ 6.8  $ 20.4  $ 20.3 
Operating expenses $ 23.3  $ 25.9  $ 72.2  $ 79.2