Company: BSX
Filing Date: 2025-02-18
Form Type: 10-K
Source: 0000885725-25-000011
Chunk: 148

Company: BOSTON SCIENTIFIC CORP
Filing Date: 2025-02-18
Form: 10-K
Item: Item 8
Chunk 148
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As of December 31, 2024As of December 31, 2023(in millions)Gross Carrying AmountAccumulatedAmortization/Write-offsGross Carrying AmountAccumulatedAmortization/Write-offsTechnology-related$14,327 $(8,605)$13,207 $(8,101)Patents481 (381)480 (387)Other intangible assets2,380 (1,612)2,130 (1,500)Amortizable intangible assets$17,188 $(10,598)$15,817 $(9,988)Goodwill$26,989 $(9,900)$24,287 $(9,900)IPR&D94 54 Technology-related— 120 Indefinite-lived intangible assets$94 $174 The increase in our balance of goodwill and amortizable intangible assets is related primarily to our acquisitions of Silk Road Medical and Axonics in the third and fourth quarters of 2024, respectively.Intangible asset impairment charges were $386 million in 2024, $58 million in 2023 and $132 million in 2022. The impairment charges recorded in 2024 were primarily associated with amortizable intangible assets established in connection with our acquisitions of Cryterion Medical, Inc. (Cryterion) and Devoro Medical, Inc. (Devoro), which were integrated into our Electrophysiology and Peripheral Interventions business units, respectively. Intangible assets acquired from Cryterion were impaired due to strong commercial adoption of our Farapulse™ Pulsed Field Ablation System in our Electrophysiology business unit and the resulting lower revenue projections and cannibalization of our cryoablation business. Intangible assets acquired from Devoro were impaired following management's decision to cancel the related program in the second quarter of 2024. The impairment charges recorded in 2023 were primarily associated with the cancellation of an IPR&D program due to the incremental time and cost to complete the program and bring the technology to market. During the third quarter of 2024, we performed our annual IPR&D impairment test and evaluated our indefinite-lived intangible assets for impairment and concluded the assets were not impaired. We also reclassified our indefinite-lived technology-related intangible assets to amortizable intangible assets after determining they no longer have an indefinite useful life and verified that the classification of IPR&D projects recognized within our unaudited