Annual report pursuant to Section 13 and 15(d)

Goodwill and Intangible Assets (Tables)

v3.22.4
Goodwill and Intangible Assets (Tables)
 12 Months Ended
Dec. 31, 2022
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 December 31, 2022 and December 31, 2021 (in millions):
Predecessor
 
Medical
Industrial
Consolidated
Balance—June 30, 2020 $ 106.8  $ 415.8  $ 522.6 
Acquisition of Sun Nuclear 130.2  —  130.2 
Acquisition of Biodex 11.1  —  11.1 
Acquisition of Dosimetrics 1.6  —  1.6 
Translation adjustment (0.2) 16.2  16.0 
Balance—June 30, 2021 $ 249.5  $ 432.0  $ 681.5 
Acquisition of Dosimetry Badge 0.9  —  0.9 
Translation adjustment (0.4) (4.6) (5.0)
Balance—October 19, 2021 $ 250.0  $ 427.4  $ 677.4 
Successor
Medical Industrial Consolidated
Balance—October 20, 2021 $ —  $ —  $ — 
Business Combination (acquisition of Mirion) 675.2  963.8  1639.0 
Acquisition of CHP Badge 1.5  —  1.5 
Acquisition of Safeline 0.8  —  0.8 
Acquisition of CIRS 35.0  —  35.0 
Translation adjustment —  (13.7) (13.7)
Balance—December 31, 2021 $ 712.5  $ 950.1  $ 1,662.6 
Business Combination and other acquisitions - measurement period adjustments (1.9) 5.3  3.4 
CI acquisition 4.9  4.9 
Goodwill impairment (87.3) (124.5) (211.8)
Goodwill reclassified as assets held for sale (7.3) —  (7.3)
Translation adjustment —  (33.8) (33.8)
Balance—December 31, 2022 $ 616.0  $ 802.0  $ 1,418.0 
Gross carrying amounts and cumulative goodwill impairment losses are as follows (in millions):
December 31, 2022
Gross Carrying Amount Cumulative Impairment
Goodwill 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):
Successor
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 
December 31, 2021
Original Average
 Life in Years		 Gross Carrying
 Amount		 Accumulated
 Amortization 		Net Book
 Value
Customer relationships
6 - 13
 $ 341.0  $ (15.3) $ 325.7 
Distributor relationships
7 - 13
 61.0  (1.5) 59.5
Developed technology
5 - 16
 251.2  (5.9) 245.3
Trade names
3 - 10
 100.0  (2.1) 97.9
Backlog and other
1 - 4
 85.7  (7.2) 78.4
Total $ 838.9  $ (32.0) $ 806.9 
Predecessor
June 30, 2021
Original Average
 Life in Years		 Gross Carrying
 Amount		 Accumulated
 Amortization		 Net Book
 Value
Customer relationships
6-17
 $ 420.4  $ (205.6) $ 214.8 
Developed technology
3-16
 184.5  (104.7) 79.8 
Trade names
5-9
 47.4  (29.5) 17.9 
Backlog and other
1-9
 40.6  (26.8) 13.8 
Total $ 692.9  $ (366.6) $ 326.3 
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):
Successor Predecessor
Fiscal Year Ended December 31, 2022 From October 20, 2021 to December 31, 2021 From July 1, 2021 through October 20, 2021 Fiscal Year Ended June 30, 2021 Fiscal Year Ended June 30, 2020
Amortization expense for intangible assets in:
Cost of revenues $ 26.5  $ 5.6  $ 6.6  $ 20.9  $ 17.9 
Operating expenses $ 119.3  $ 26.4  $ 13.1  $ 41.9  $ 32.7