XML 30 R13.htm IDEA: XBRL DOCUMENT v3.22.0.1
Goodwill and Other Intangible Assets
12 Months Ended
Dec. 31, 2021
Goodwill And Intangible Assets Disclosure [Abstract]  
Goodwill and Other Intangible Assets

Note 6. Goodwill and Other Intangible Assets

Acquired Intangible Assets

Acquired identifiable intangible assets, and related accumulated amortization, as of December 31, 2021 and 2020 consist of:

 

 

 

December 31, 2021

 

 

 

Gross

Carrying

Value

 

 

Accumulated

Amortization

 

 

Net Book

Value

 

 

 

(in thousands)

 

Customer relationships

 

$

8,355

 

 

$

6,315

 

 

$

2,040

 

Tradenames

 

 

3,066

 

 

 

730

 

 

 

2,336

 

Developed technology

 

 

1,884

 

 

 

440

 

 

 

1,444

 

Foreign currency

 

 

(896

)

 

 

(865

)

 

 

(32

)

Total Intangible Assets

 

$

12,409

 

 

$

6,620

 

 

$

5,788

 

 

 

 

December 31, 2020

 

 

 

Gross

Carrying

Value

 

 

Accumulated

Amortization

 

 

Net Book

Value

 

 

 

(in thousands)

 

Customer relationships

 

$

7,915

 

 

$

5,584

 

 

$

2,331

 

Tradenames

 

 

2,686

 

 

 

425

 

 

 

2,261

 

Developed technology

 

 

784

 

 

 

177

 

 

 

607

 

Foreign currency

 

 

(845

)

 

 

(784

)

 

 

(61

)

Total Intangible Assets

 

$

10,540

 

 

$

5,402

 

 

$

5,138

 

 

In connection with the October 2012 acquisition of TB Europe, the acquired intangible asset related to customer relationships is being amortized over an estimated useful life of thirteen years with the amortization being included within sales and marketing expense.

 

In May 2019, the Company completed its acquisition of the business and assets of ROCCAT. The acquired intangible assets relating to developed technology, customer relationships, and trade name are subject to amortization. In January 2021, the Company completed its acquisition of the business and assets relating to the Neat Microphones business. The acquired intangible assets relating to developed technology, customer relationships, and trade name are subject to amortization. Refer to Note 2, “Acquisitions” for additional information related to ROCCAT’s and Neat Microphone’s identifiable intangible assets.

Amortization expense related to definite lived intangible assets was $1.3 million, $0.9 million and $0.6 million for the years ended December 31, 2021, 2020 and 2019, respectively.

As of December 31, 2021, estimated annual amortization expense related to definite lived intangible assets in future periods is as follows:

 

 

 

(in thousands)

 

2022

 

$

1,281

 

2023

 

 

1,041

 

2024

 

 

1,008

 

2025

 

 

889

 

2026

 

 

637

 

Thereafter

 

 

964

 

Total

 

$

5,820

 

 

All goodwill is attributable to the gaming accessories reporting unit. Changes in the carrying values of goodwill for twelve months ended December 31, 2021 are as follows:

 

 

 

(in thousands)

 

Balance as of January 1, 2021

 

$

8,178

 

NEAT Microphones acquisition

 

 

2,508

 

Balance as of December 31, 2021

 

$

10,686