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Goodwill and Intangible Assets (Tables)
9 Months Ended
Sep. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill / Tradename

Goodwill activity for the nine months ended September 30, 2022 and the year ended December 31, 2021 was as follows:

(in thousands)

 

Nine months ended September 30, 2022

 

 

Year ended December 31, 2021

 

Goodwill / Tradename

 

Goodwill

 

 

Tradename

 

 

Goodwill

 

 

Tradename

 

Beginning balance

 

$

161,183

 

 

$

9,629

 

 

$

161,820

 

 

$

12,937

 

Acquisitions

 

 

24,383

 

 

 

 

 

 

 

 

 

 

Transfers to finite life classification

 

 

 

 

 

 

 

 

 

 

 

(3,150

)

Foreign currency translation

 

 

(3,201

)

 

 

(283

)

 

 

(637

)

 

 

(158

)

Ending balance

 

$

182,365

 

 

$

9,346

 

 

$

161,183

 

 

$

9,629

 

Intangible Assets - Finite Life

Finite life intangible assets consisted of the following:

(in thousands)

 

September 30, 2022

 

 

December 31, 2021

 

Intangible assets – finite life

 

Cost

 

 

Accum. Amort.

 

 

Cost

 

 

Accum. Amort.

 

Technology

 

$

14,457

 

 

$

14,702

 

 

$

14,457

 

 

$

13,704

 

Customer lists

 

 

88,043

 

 

 

57,091

 

 

 

73,199

 

 

 

53,970

 

Tradename

 

 

11,322

 

 

 

3,455

 

 

 

9,728

 

 

 

2,745

 

Foreign currency adjustments

 

 

(3,620

)

 

 

(1,141

)

 

 

(2,149

)

 

 

(1,025

)

Total intangible assets – finite life

 

$

110,202

 

 

$

74,107

 

 

$

95,235

 

 

$

69,394

 

 

Summary of Finite Lived Intangible Assets Activities

Finite life intangible asset activity for the nine months ended September 30, 2022 and 2021 was as follows:

 

 

Nine months ended September 30,

 

(in thousands)

 

2022

 

 

2021

 

Intangible assets – finite life, net at beginning of period

 

$

25,841

 

 

$

29,637

 

Amortization expense

 

 

(4,939

)

 

 

(5,029

)

Transfers from indefinite life classification

 

 

 

 

 

3,150

 

Acquisition

 

 

16,438

 

 

 

 

Foreign currency adjustments

 

 

(1,245

)

 

 

(100

)

Intangible assets – finite life, net at end of period

 

$

36,095

 

 

$

27,658