Company: ICUI
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0000883984-25-000030
Chunk: 136

Company: ICU MEDICAL INC/DE
Filing Date: 2025-08-07
Form: 10-Q
Item: Item 8
Chunk 136
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 $698,009 ______________________________ (1)    Developed technology primarily consists of acquired patented technologies and internally developed software. Upon completion of development, the assets are amortized over their estimated useful lives. (2)    Internally developed software will be reclassified to developed technology and amortized when the projects are complete and the assets are ready for their intended use. Weighted-Average Amortization Life in YearsDecember 31, 2024 CostAccumulatedAmortizationNetPatents10$36,811 $22,913 $13,898 Customer contracts129,818 6,994 2,824 Non-contractual customer relationships8546,404 236,267 310,137 Trademarks15,425 5,425 — Trade name1518,239 8,357 9,882 Developed technology(1) 10619,540 227,869 391,671 Non-compete39,100 9,100 — Total amortized intangible assets $1,245,337 $516,925 $728,412 Internally developed software(2) $12,377 $12,377 Total intangible assets$1,257,714 $516,925 $740,789 _______________________________(1)    Developed technology primarily consists of acquired patented technologies and internally developed software. Upon completion of development, the assets are amortized over their estimated useful lives. (2)    Internally developed software will be reclassified to developed technology and amortized when the projects are complete and the assets are ready for their intended use. During 2024, we reclassified $33.2 million to developed technology.Intangible assets with definite lives are amortized on a straight-line basis over their estimated useful lives. Intangible asset amortization expense was $32.7 million and $65.3 million for the three and six months ended June 30, 2025, respectively, as compared to $33.1 million and $66.2 million during the three and six months ended June 30, 2024, respectively. Intangible asset amortization expense included in cost of goods sold was $1.0 million and $2.1 million, for the three and six months ended June 30, 2025, respectively. There were no such balances for the three and six months ended June 30