Goodwill and Other Intangible Assets

12 Months Ended

Dec. 31, 2021

Goodwill and Other Intangible Assets [Abstract]

Goodwill and Other Intangible Assets

Note 20 – Goodwill and Other Intangible Assets

The Company performs its annual goodwill impairment test as of the first day of the fiscal fourth quarter.  No impairment was identified as a result of the Company's annual impairment tests for 2021, 2020, and 2019.

The changes in the carrying amount of goodwill by segment for the years ended December 31, 2021 and 2020 were as follows:

	Optoelectronic Components		Resistors			Inductors		Total
Balance at December 31, 2019	$	96,849	$	27,978		$	25,815	$	150,642
Applied Thin-Film Products acquisition		-		6,548			-		6,548
Exchange rate effects		-		993			-		993
Balance at December 31, 2020	$	96,849	$	35,519		$	25,815	$	158,183
Barry Industries acquisition		-		7,813			-		7,813
Exchange rate effect		-		(727	)		-		(727	)
Balance at December 31, 2021	$	96,849	$	42,605		$	25,815	$	165,269

Other intangible assets are as follows:

	December 31, 2021			December 31, 2020
Intangible assets subject to amortization:
Patents and acquired technology	$	21,207		$	21,259
Capitalized software		57,909			58,419
Customer relationships		75,190			71,454
Tradenames		20,066			23,105
Other		400			-
		174,772			174,237
Accumulated amortization:
Patents and acquired technology		(14,212	)		(14,340	)
Capitalized software		(52,729	)		(52,990	)
Customer relationships		(29,531	)		(28,659	)
Tradenames		(10,586	)		(11,453	)
Other		-			-
		(107,058	)		(107,442	)
Net Intangible Assets Subject to Amortization	$	67,714		$	66,795

Amortization expense (excluding capitalized software) was $7,790, $8,113, and $8,476, for the years ended December 31, 2021, 2020, and 2019, respectively.

Estimated annual amortization expense of intangible assets on the balance sheet at December 31, 2021 for each of the next five years is as follows:

2022	$	7,930
2023		7,710
2024		7,395
2025		7,017
2026		6,221