v3.25.2
Goodwill and Intangible Assets
6 Months Ended
Jun. 30, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Intangible Assets

6.   Goodwill and Intangible Assets. The change in the carrying amount of goodwill by segment for the six-month period ended June 30, 2025 is detailed as follows (in thousands):

2025

    

Cardiovascular

Endoscopy

Total

Goodwill balance at January 1

$

446,514

$

16,997

$

463,511

Effect of foreign exchange

 

2,758

 

 

2,758

Additions and adjustments as the result of acquisitions

 

38,286

 

 

38,286

Goodwill balance at June 30

$

487,558

$

16,997

$

504,555

Total accumulated goodwill impairment losses aggregated to $8.3 million as of June 30, 2025 and December 31, 2024, respectively. We did not have any goodwill impairments for the three and six-month periods ended June 30, 2025 or 2024.

Other intangible assets at June 30, 2025 and December 31, 2024 consisted of the following (in thousands):

June 30, 2025

Gross Carrying

Accumulated

Net Carrying

    

Amount

    

Amortization

    

Amount

Patents

$

33,078

$

(13,786)

$

19,292

Distribution agreements

 

3,250

 

(3,031)

 

219

License agreements

 

12,595

 

(9,608)

 

2,987

Trademarks

 

51,456

 

(26,233)

 

25,223

Customer lists

 

62,676

 

(38,214)

 

24,462

Total

$

163,055

$

(90,872)

$

72,183

December 31, 2024

Gross Carrying

Accumulated

Net Carrying

    

Amount

    

Amortization

    

Amount

Patents

$

31,489

$

(12,824)

$

18,665

Distribution agreements

 

3,250

 

(2,994)

 

256

License agreements

 

11,557

 

(9,125)

 

2,432

Trademarks

 

47,613

 

(24,177)

 

23,436

Customer lists

 

57,933

 

(36,223)

 

21,710

Total

$

151,842

$

(85,343)

$

66,499

Aggregate amortization expense for developed technology and other intangible assets for the three and six-month periods ended June 30, 2025 was $21.5 million and $41.5 million, respectively. Aggregate amortization expense for the three and six-month periods ended June 30, 2024 was $14.8 million and $29.4 million, respectively.

We evaluate long-lived assets, including amortizing intangible assets, for impairment whenever events or changes in circumstances indicate that their carrying amounts may not be recoverable. We perform the impairment analysis at the asset group for which the lowest level of identifiable cash flows is largely independent of the cash flows of other assets and liabilities. If a triggering event is identified, we determine the fair value of our amortizing assets based on estimated future cash flows discounted back to their present value using a discount rate that reflects the risk profiles of the underlying activities. We did not identify indicators of impairment for our intangible assets based on our consideration of triggering events for the six-month periods ended June 30, 2025 and 2024, respectively.

Estimated amortization expense for developed technology and other intangible assets for the next five years consisted of the following as of June 30, 2025 (in thousands):

Year ending December 31, 

    

Estimated Amortization Expense

Remaining 2025

$

45,989

2026

 

81,813

2027

 

78,208

2028

76,670

2029

 

65,166