Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Goodwill and Intangible Assets

v3.22.1
Goodwill and Intangible Assets
3 Months Ended
Mar. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Intangible Assets Goodwill and Intangible AssetsThe following table summarizes the changes in the carrying amount of goodwill by segment for the three months ended March 31, 2022 (in thousands):
March 31, 2022 December 31, 2021
Clinical Services $ 462,603  $ 462,603 
Pharma Services 64,512  64,512 
Total $ 527,115  $ 527,115 
Intangible assets consisted of the following (in thousands):
    March 31, 2022
  Amortization
Period (years)
Cost Accumulated
Amortization
Net
Customer Relationships
7 - 15
$ 143,101  $ 48,228  $ 94,873 
Developed Technology
10 - 15
310,226  17,127  293,099 
Marketing Assets
4
549  135  414 
Trademarks
15
31,473  1,649  29,824 
Trade Name
5
2,584  406  2,178 
Trademark - Indefinite lived 13,447  —  13,447 
Total   $ 501,380  $ 67,545  $ 433,835 
 
    December 31, 2021
  Amortization
Period (years)
Cost Accumulated
Amortization
Net
Customer Relationships
7 - 15
$ 143,101  $ 45,756  $ 97,345 
Developed Technology
10 - 15
310,226  11,798  298,428 
Marketing Assets 4 549  100  449 
Trademarks 15 31,473  1,125  30,348 
Trade Name 5 2,584  276  2,308 
Trademark - Indefinite lived 13,447  —  13,447 
Total $ 501,380  $ 59,055  $ 442,325 
 
The Company records amortization expense within cost of revenue and general and administrative expense on the Consolidated Statement of Operations. The following table summarizes the amortization expense for the three months ended March 31, 2022 and 2021 (in thousands):
Three Months Ended March 31,
2022 2021
Amortization of intangibles included in cost of revenue $ 4,853  $ — 
Amortization of intangibles included in general and administrative expenses 3,637  2,458
Total amortization of intangibles $ 8,490  $ 2,458 
The estimated amortization expense related to amortizable intangible assets for each of the following periods as of March 31, 2022 is as follows (in thousands):
 
Remainder of 2022 $ 25,389 
2023 33,899 
2024 33,899 
2025 33,798 
2026 33,485 
Thereafter 259,918 
Total $ 420,388