v3.22.2.2
Goodwill and Intangible Assets
9 Months Ended
Sep. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Intangible Assets Goodwill and Intangible Assets
Goodwill
On May 24, 2022, we acquired all outstanding equity interests of Antares. A Goodwill balance of $199.5 million was recognized for the excess of the consideration transferred over the net assets acquired and represents the expected revenue and cost synergies of the combined company and assembled workforce.
A summary of the activity impacting goodwill is presented below (in thousands):
Balance as of December 31, 2021$— 
Goodwill acquired199,481 
Balance as of September 30, 2022
$199,481 
Intangible Assets
Our acquired intangible assets are amortized using the straight-line method over their estimated useful lives of seven to ten years. The following table shows the cost, accumulated amortization and weighted average remaining life in years for our acquired intangible assets as of September 30, 2022 (in thousands).
Weighted average remaining life (in years)Gross Carrying ValueAccumulated AmortizationNet Carrying Value
Auto Injector technology platform7$372,900 $18,903 $353,997 
XYOSTED proprietary product10277,400 9,843 267,557 
TLANDO product rights10277,600 9,850 267,750 
Total definite-lived intangibles, net$927,900 $38,596 $889,304 
ATRS-1902 (IPR&D)Indefinite59,600 
Total Intangibles, net$948,904 

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.

Year:Amortization (in thousands)
Remainder of 2022$27,194 
2023108,771 
2024108,771 
2025108,771 
2026108,771 
Thereafter427,026 
Total$889,304