v3.25.1
Goodwill and Intangibles
3 Months Ended
Mar. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Intangibles

11. Goodwill and Intangibles:

The following schedule represents the gross carrying amount and accumulated amortization of intangible assets as of March 31, 2025 and December 31, 2024. Product rights and trademarks are amortized over the lesser of the useful life ranging from 10 to 25 years, or the patent life. Customer lists are amortized over their expected useful lives of nine to ten years. The amortization expense is included in operating expenses on the consolidated statements of operations.

 

 

 

 

2025

 

 

2024

 

 

 

Gross

 

 

Accumulated
Amortization

 

 

Net Book
Value

 

 

Gross

 

 

Accumulated
Amortization

 

 

Net Book
Value

 

Product rights and patents

 

$

261,017

 

 

$

140,522

 

 

$

120,495

 

 

$

260,928

 

 

$

138,090

 

 

$

122,838

 

Trademarks

 

 

38,579

 

 

 

14,786

 

 

 

23,793

 

 

 

38,475

 

 

 

14,375

 

 

 

24,100

 

Customer lists

 

 

12,144

 

 

 

8,764

 

 

 

3,380

 

 

 

11,874

 

 

 

8,315

 

 

 

3,559

 

Total intangibles assets

 

$

311,740

 

 

$

164,072

 

 

$

147,668

 

 

$

311,277

 

 

$

160,780

 

 

$

150,497

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Domestic intangible assets

 

 

172,805

 

 

 

103,918

 

 

 

68,887

 

 

 

172,755

 

 

 

102,347

 

 

 

70,408

 

International intangible assets

 

 

138,935

 

 

 

60,154

 

 

 

78,781

 

 

 

138,522

 

 

 

58,433

 

 

 

80,089

 

Total intangibles assets - domestic and international

 

$

311,740

 

 

$

164,072

 

 

$

147,668

 

 

$

311,277

 

 

$

160,780

 

 

$

150,497

 

 

The following schedule represents intangible assets activity for the three months ended March 31, 2025:

 

 

 

Amount

 

Intangible assets at January 1, 2025

 

$

150,497

 

Additions during Q1 2025

 

 

27

 

Impact of movement in exchange rates

 

 

210

 

Amortization expense

 

 

(3,066

)

Intangible assets at March 31, 2025

 

$

147,668

 

 

 

 

 

Goodwill at January 1, 2025

 

$

19,701

 

Impact of movement in exchange rates

 

 

590

 

Goodwill at March 31, 2025

 

$

20,291

 

 

The following schedule represents future amortization charges related to intangible assets:

 

Year ending December 31,

 

Amount

 

2025

 

$

9,105

 

2026

 

 

12,125

 

2027

 

 

12,067

 

2028

 

 

11,057

 

2029

 

 

10,759

 

Thereafter

 

 

92,555

 

 

 

$

147,668

 

 

During the three months ended March 31, 2025, and 2024, amortization expense was $3,066 and $3,274, respectively.