XML 25 R15.htm IDEA: XBRL DOCUMENT v3.22.1
Goodwill and Intangible Assets, net
 3 Months Ended
Mar. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Intangible Assets, net Goodwill and Intangible Assets, net The gross carrying amount and accumulated amortization of the Company’s intangible assets, net, as of March 31, 2022 were as follows:
(in thousands)Gross
Carrying
Value		Accumulated
Amortization		Net Carrying
Value		Estimated
Useful Life
(Years)
Trademarks$10,072 $(3,611)$6,461 15
Non-compete agreement805 (356)449 3
Customer relationships18,629 (5,095)13,534 
5-10
Developed technology70,900 (47,267)23,633 8
Patents2,146 (320)1,826 
3-19
Capitalized software10,016 (3,375)6,641 
3-5
Total intangible assets$112,568 $(60,024)$52,544 
The gross carrying amount and accumulated amortization of the Company’s intangible assets, net, as of December 31, 2021 were as follows:
(in thousands)Gross
Carrying
Value		Accumulated
Amortization		Net Carrying
Value		Estimated
Useful Life
(Years)
Trademarks$10,048 $(3,442)$6,60615
Non-compete agreement809 (139)670 3
Customer relationships18,625 (4,391)14,234 
5-10
Developed technology70,900 (45,051)25,849 8
Patents2,050 (295)1,755 
3-19
Capitalized software9,867 (2,971)6,896 
3-5
Total intangible assets$112,299 $(56,289)$56,010 

Amortization expense was as follows for the periods indicated:
Three Months Ended March 31,
(in thousands)20222021
Cost of sales$2,241 $2,231 
General and administrative298 502 
Selling and marketing635 188 
Total amortization expense$3,174 $2,921 

The changes in the carrying value of goodwill are as follows:
Three Months Ended March 31,
(in thousands)20222021
Beginning balance$123,694 $98,531 
Measurement period adjustments - Ecomedic174 — 
Foreign currency translation impact(94)4 
Ending balance$123,774 $98,535 
The goodwill arising from the Ecomedic acquisition was increased by $0.2 million due to adjustments of acquisition date tax liability estimates during the three months ended March 31, 2022.