Goodwill and Intangible Assets

12 Months Ended

Dec. 31, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill

Goodwill is evaluated for impairment on an annual basis on September 30, and when events or changes indicate it is more likely than not the carrying value exceeds fair value. The Company operates as one reporting unit.

For the impairment test performed September 30, the Company performed a quantitative analysis to determine the existence and extent of impairment. The quantitative analysis concluded that the fair value of the Company’s reporting unit exceeded its carrying value. As a result of these assessments, the Company concluded that there was no impairment. Accordingly, no impairment was recorded for the year ended December 31, 2020.

For the impairment test performed September 30, 2019, the Company performed a qualitative analysis to determine if it was more likely than not that goodwill impairment existed as of the annual impairment test date. As a result of this assessment, the Company concluded that it was not more likely than not that goodwill was impaired. Accordingly, the Company did not perform a quantitative assessment. There was no impairment recorded with respect to goodwill for the year ended December 31, 2019.

The following represents the changes in the carrying amount of goodwill for 2020 and 2019 (in thousands):


	Goodwill
Balance as of January 1, 2019	$	19,976
Activity	—
Balance as of December 31, 2019	19,976
Activity	—
Balance as of December 31, 2020	$	19,976

Intangible Assets

Intangible assets are summarized as follows (in thousands):


	December 31, 2020						December 31, 2019
	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Amortized intangible assets
Licenses	$	1,414	$	(1,334)	$	80	$	1,414	$	(1,200)	$	214
Patents and know-how	9,510		(5,730)		3,780		9,099		(5,070)		4,029
Customer and supplier relationships	241		(172)		69		3,761		(2,417)		1,344
Non-compete agreements	120		(98)		22		120		(68)		52
Total amortized intangible assets	$	11,285	$	(7,334)	$	3,951	$	14,394	$	(8,755)	$	5,639

Unamortized intangible assets
Tradenames and trademarks	$	1,008			$	1,008	$	1,008			$	1,008
Patents in process	1,045				1,045		1,130				1,130
Total intangible assets	$	13,338			$	6,004	$	16,532			$	7,777

Amortization expense for the years ended December 31, 2020, 2019, and 2018, is summarized in the table below (amounts in thousands):


	Year ended December 31,
	2020		2019		2018
Amortization of intangible assets	$	1,073	$	1,039	$	1,034
Impairment of intangible assets	1,027		1,258		—

Impairment of intangible assets in 2020 related to customer relationship assets that were determined to be unrecoverable due to lower than expected margins. Impairment of intangible assets in 2019 were related to the abandonment of patents in process and customer relationship assets.

Expected future amortization of intangible assets as of December 31, 2020, is as follows (in thousands):


	Estimated
	Amortization
Year ending December 31,	Expense
2021	$	793
2022	691
2023	691
2024	691
2025	279
Thereafter	806
	$	3,951