Company: PCRX
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0001396814-25-000041
Chunk: 37

Company: Pacira BioSciences, Inc.
Filing Date: 2025-02-27
Form: 10-K
Item: Item 16
Chunk 37
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Supplemental cash flow information related to operating leases is as follows (in thousands): Year Ended December 31,202420232022Cash paid for operating lease liabilities, net of lease incentives$12,991 $14,259 $14,357 Right-of-use assets recorded in exchange for lease obligations$— $— $3,324 The weighted average remaining lease terms and the weighted average discount rates are summarized as follows:December 31,20242023Weighted average remaining lease term5.19 years6.04 yearsWeighted average discount rate6.89%7.02%

Pacira BioSciences, Inc.  |  2024 Annual Report on Form 10-K  |  Page F-20

Table of ContentsPACIRA BIOSCIENCES, INC.NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

As of December 31, 2024, maturities of the Company’s operating lease liabilities are as follows (in thousands):YearAggregate MinimumPayments Due2025$12,285 202612,319 202712,072 202810,924 202910,812 Thereafter5,614    Total future lease payments64,026    Less: imputed interest(10,494)   Total operating lease liabilities$53,532 

NOTE 8—GOODWILL AND INTANGIBLE ASSETS

GoodwillThe Company’s goodwill resulted from the acquisition of Pacira Pharmaceuticals, Inc. (the Company’s California operating subsidiary) from SkyePharma Holding, Inc. (now Vectura Group Limited, a subsidiary of Molex Asia Holdings Ltd.) in 2007, the MyoScience Acquisition in 2019 and the Flexion Acquisition in 2021. The goodwill balance at December 31, 2023 was $163.2 million.Goodwill represents the excess of the purchase price over the estimated fair value of the net assets acquired in a business combination and is subject to impairment testing at least annually or upon the occurrence of a triggering event that could indicate a potential impairment. During the three months ended September 30, 2024, the FDA approved a generic competitor to EXPAREL and a U.S. District Court ruled that one of the Company’s patents was not valid (for more information, see Note 19, Commitments and Contingencies). The Company determined that these events, combined with a subsequent decrease in the Company’s common stock price,