Quarterly report pursuant to Section 13 or 15(d)

Goodwill and Intangible Assets (Tables)

v3.23.1
Goodwill and Intangible Assets (Tables)
 3 Months Ended
Mar. 31, 2023
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 March 31, 2023 and December 31, 2022 (in millions):
Medical Industrial Consolidated
Balance—December 31, 2022 $ 616.0  $ 802.0  $ 1,418.0 
Business Combination and other acquisitions - measurement period adjustments —  0.9  0.9 
Translation adjustment —  6.0  6.0 
Balance—March 31, 2023 $ 616.0  $ 808.9  $ 1,424.9 
Gross carrying amounts and cumulative goodwill impairment losses are as follows (in millions):
March 31, 2023 December 31, 2022
Gross Carrying Amount Cumulative Impairment Gross Carrying Amount Cumulative Impairment
Goodwill $ 1,636.7  $ (211.8) $ 1,629.8  $ (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):
March 31, 2023
Original Average
 Life in Years		 Gross Carrying
 Amount		 Accumulated
 Amortization		 Net Book
 Value
Customer relationships
6 - 13
 $ 338.0  $ (99.0) $ 239.0 
Distributor relationships
7 - 13
 60.9  (10.5) 50.4 
Developed technology
5 - 16
 250.4  (44.2) 206.2 
Trade names
3 - 10
 98.7  (14.5) 84.2 
Backlog and other
1 - 4
 75.4  (35.4) 40.0 
Total $ 823.4  $ (203.6) $ 619.8 
December 31, 2022
Original Average
 Life in Years		 Gross Carrying
 Amount		 Accumulated
 Amortization 		Net Book
 Value
Customer relationships
6 - 13
 $ 336.8  $ (83.1) $ 253.7 
Distributor relationships
7 - 13
 60.9  (8.7) 52.2 
Developed technology
5 - 16
 248.9  (36.3) 212.6 
Trade names
3 - 10
 98.2  (12.0) 86.2 
Backlog and other
1 - 4
 74.8  (29.1) 45.7 
Total $ 819.6  $ (169.2) $ 650.4 
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
March 31,
2023 2022
Amortization expense for intangible assets in:
Cost of revenues $ 6.7  $ 6.7 
Operating expenses $ 26.9  $ 32.1