Note 5 - Goodwill |
12 Months Ended |
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Dec. 31, 2022 | |
Notes to Financial Statements | |
Goodwill Disclosure [Text Block] |
5. Goodwill
In 2014, the Company acquired three companies (the acquisitions) for aggregate consideration of $5.5 million. In accordance with ASC Topic 805, Business Combinations, the Company recorded goodwill of $2.8 million in connection with the acquisitions, which represents the excess of consideration paid over the fair value of net tangible and intangible assets acquired.
The Company reviews goodwill for impairment annually or whenever changes in circumstances indicate that the carrying amount of goodwill may not be recoverable. Based on the Company’s annual review as of December 31, 2022, the Company determined that its goodwill was impaired.
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