Company: OFIX
Filing Date: 2025-02-25
Form Type: 10-K
Source: 0000950170-25-026066
Chunk: 230

Company: Orthofix Medical Inc.
Filing Date: 2025-02-25
Form: 10-K
Item: Item 1B
Chunk 230
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 that best reflects the economic benefits provided by these assets.

F-15

Amortization expense for intangible assets was $19.0 million, $18.9 million, and $9.4 million for the years ended December 31, 2024, December 31, 2023, and 2022, respectively. Future amortization expense for intangible assets is estimated as follows:

        (U.S. Dollars, in thousands)
         
        Amortization

        2025
         
        $
        19,859

        2026

        18,780

        2027

        18,418

        2028

        15,043

        2029

        7,139

        Thereafter

        15,448

        Total finite-lived intangible assets, net
         
        $
        94,687

        Indefinite-lived intangible assets

        4,116

        Intangible assets, net
         
        $
        98,803

8.	GoodwillThe Company tests goodwill at least annually for impairment. The Company tests more frequently if indicators are present or changes in circumstances suggest that impairment may exist. These indicators include, among others, declines in sales, earnings, or cash flows, or the development of a material adverse change in the business climate. The Company assesses goodwill for impairment at the reporting unit level, which is defined as an operating segment or one level below an operating segment.The following table presents the net carrying value of goodwill as of December 31, 2024, and 2023, and a rollforward of such balances from December 31, 2023, by reportable unit:

        (U.S. Dollars, in thousands)
         
        Balance as of December 31, 2023

        Impairment

        Currency translation adjustment

        Balance as of December 31, 2024

        Global Spine - Gross
         
        $
        194,934

        $
        —

        $
        —

        $
        194,934

        Global Spine - Accumulated Impairment Loss

        —

        —

        —

        $
        —

        Global Spine - Net
         
        $
        194,934

        $
        —

        $
        —

        $
        194,934

        Global Orthopedics - Gross
         
        $
        11,477

        $