GOODWILL AND INTANGIBLE ASSETS (Tables)

9 Months Ended

Sep. 30, 2025

Goodwill and Intangible Assets Disclosure [Abstract]

The following roll-forward indicates the fair values assigned to finite-lived intangible assets from the Acquisition and the resulting amortization:


	As of
	September 30, 2025						December 31, 2024
(in thousands)	Gross Carrying Amount		Accumulated Amortization		Net Intangible Assets		Gross Carrying Amount		Accumulated Amortization		Net Intangible Assets
Developed Technologies	$	2,410,000	$	(546,713)	$	1,863,287	$	2,410,000	$	(446,297)	$	1,963,703
Trade Names	40,000		(18,147)		21,853		40,000		(14,813)		25,187
Total Finite-Lived Intangible Assets	$	2,450,000	$	(564,860)	$	1,885,140	$	2,450,000	$	(461,110)	$	1,988,890

The following roll-forward indicates the carrying value of the indefinite-lived intangible asset from the Acquisition and the impairment expenses recorded:


(in thousands)	IPR&D


Balance as of January 1, 2024	$	560,000
Impairment	(532,000)
Balance as of December 31, 2024	28,000
Impairment	(28,000)
Balance as of September 30, 2025	$	—

Schedule of maturity of finite-lived intangible assets

The estimated future annual amortization of finite-lived intangible assets is shown in the following table. Actual amortization expense to be reported in future periods could differ from these estimates as a result of acquisitions, divestitures, and asset impairments, among other factors.


(in thousands)	Estimated Annual Amortization
Remainder of 2025	$	34,583
2026	138,333
2027	138,333
2028	138,333
2029	138,333

2030 and thereafter	1,297,225
Total	$	1,885,140