Assets and liabilities of acquired businesses are recorded at their estimated fair values as of the date of acquisition. Goodwill represents costs in excess of fair values assigned to the underlying net assets of acquired businesses.


	June 30, 2025					December 31, 2024
	Weighted Average Amortization Period (Years)	Gross Carrying Amount		Accumulated Amortization		Gross Carrying Amount		Accumulated Amortization
Intangible assets with definite lives:	22

Customer and distributor relationships	24	$	370,061	$	(213,456)	$	369,774	$	(205,013)

Sales representation, marketing and promotional rights	25	149,376		(81,000)		149,376		(78,000)

Developed technology	18	320,204		(60,097)		320,204		(54,812)

Patents and other intangible assets	16	86,934		(56,749)		85,392		(55,802)

Intangible assets with indefinite lives:

Trademarks and tradenames		86,544		—		86,544		—

		$	1,013,119	$	(411,302)	$	1,011,290	$	(393,627)

Customer and distributor relationships, trademarks and tradenames, developed technology and patents and other intangible assets primarily represent allocations of purchase price to identifiable intangible assets of acquired businesses. Sales representation, marketing and promotional rights represent intangible assets created under our agreement with Musculoskeletal Transplant Foundation (“MTF”).

Amortization expense related to intangible assets which are subject to amortization totaled $8.7 million and $8.6 million for the three months ended June 30, 2025 and 2024, respectively, and $17.3 million and $17.2 million for the six months ended June 30, 2025 and 2024, respectively, and is included as a reduction of revenue (for amortization related to our sales representation, marketing and promotional rights) and in selling and administrative expense (for all other intangible assets) in the consolidated condensed statements of comprehensive income.

The estimated intangible asset amortization expense remaining for the year ending December 31, 2025 and for each of the five succeeding years is as follows:


	Amortization included in expense		Amortization recorded as a reduction of revenue		Total
Remaining, 2025	$	15,020	$	3,000	$	18,020
2026	29,315		6,000		35,315
2027	30,780		6,000		36,780
2028	33,899		6,000		39,899
2029	33,112		6,000		39,112
2030	34,629		6,000		40,629