v3.25.0.1
INTANGIBLE ASSETS AND GOODWILL (Tables)
 12 Months Ended
Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of net-book value and estimated remaining life and finite lived intangible assets
The following table summarizes the net-book-value and estimated remaining life of the Company’s intangible assets as of December 31, 2024:
(In thousands)Weighted Average Remaining Life (Years)CostAccumulated AmortizationNet Balance at December 31, 2024
Finite-lived intangible assets
Trade name10.8$104,000 $(35,153)$68,847 
Customer relationships6.04,000 (1,333)2,667 
Patents and licenses9.556,542 (12,963)43,579 
Acquired developed technology (1)6.4887,104 (412,504)474,600 
Total finite-lived intangible assets1,051,646 (461,953)589,693 
In-process research and developmentn/a420,000 — 420,000 
Total intangible assets$1,471,646 $(461,953)$1,009,693 
The following table summarizes the net-book-value and estimated remaining life of the Company’s intangible assets as of December 31, 2023:
(In thousands)Weighted Average Remaining Life (Years)CostAccumulated AmortizationNet Balance at December 31, 2023
Finite-lived intangible assets
Trade name11.6$104,000 $(27,903)$76,097 
Customer relationships7.04,000 (889)3,111 
Patents and licenses4.511,542 (9,600)1,942 
Acquired developed technology (1)
7.3887,789 (328,543)559,246 
Total finite-lived intangible assets1,007,331 (366,935)640,396 
In-process research and developmentn/a1,250,000 — 1,250,000 
Total intangible assets$2,257,331 $(366,935)$1,890,396 
______________
(1)The gross carrying amount includes an insignificant foreign currency translation adjustment related to the intangible asset     acquired as a result of the acquisition of OmicEra Diagnostics GmbH (“OmicEra”).
Schedule of estimated future amortization expense, intangible assets
As of December 31, 2024, the estimated future amortization expense associated with the Company’s finite-lived intangible assets for each of the five succeeding fiscal years is as follows:
(In thousands)
2025$96,361 
202695,300 
202795,300 
202895,300 
202989,177 
Thereafter118,255 
Total$589,693 
Schedule of carrying amount of goodwill
The change in the carrying amount of goodwill for the years ended December 31, 2024 and 2023 is as follows:
(In thousands)
Balance, January 1, 2023$2,346,040 
Resolution Bioscience acquisition (1)
20,692 
Effects of changes in foreign currency exchange rates (2)388 
Balance, December 31, 20232,367,120 
Resolution Bioscience acquisition adjustments225 
Effects of changes in foreign currency exchange rates(669)
Balance, December 31, 2024$2,366,676 
_________________________________
(1)    Refer to Note 18 for further discussion on the Company’s acquisition of Resolution Bioscience, Inc. (“Resolution Bioscience”)
(2)    Represents the impact of foreign currency translation related to the goodwill acquired as a result of the acquisition of OmicEra.