Note 6 - Goodwill and Intangible Assets

12 Months Ended

Dec. 31, 2021

Notes to Financial Statements

Goodwill and Intangible Assets Disclosure [Text Block]

(6) Goodwill and Intangible Assets

Goodwill and intangible assets consisted of the following at December 31, 2021:

	Gross		Accumulated Impairment			Net
	(In thousands)
Goodwill	$	62,328	$	(714	)	$	61,614

	Useful Life				Gross		Accumulated Amortization		Net
	(In years)						(In thousands)
Non-amortizing intangible assets:
Indefinite trade name						1,191				1,191
Amortizing intangible assets:
Customer related		5	-	15		9,445		9,325		120
Technology		7				1,959		1,480		479
Trade names		5	-	10		1,572		1,572		--
Total amortizing intangible assets						12,976		12,377		599
Total intangible assets other than goodwill					$	14,167	$	12,377	$	1,790

Goodwill and intangible assets consisted of the following at December 31, 2020:

	Gross		Accumulated Impairment			Net
	(In thousands)
Goodwill	$	57,969	$	(714	)	$	57,255

	Useful Life				Gross		Accumulated Amortization		Net
	(In years)						(In thousands)
Non-amortizing intangible assets:
Indefinite trade name						1,191				1,191
Amortizing intangible assets:
Customer related		5	-	15		9,344		9,256		88
Technology		7				1,360		1,229		131
Trade names		5	-	10		1,572		1,572		--
Total amortizing intangible assets						12,276		12,057		219
Total intangible assets other than goodwill					$	13,467	$	12,057	$	1,410

The following represents a summary of changes in the carrying amount of goodwill for the years ended December 31, 2021 and 2020 (in thousands):

Balance as of December 31, 2019	$	57,935
Impairment		(714	)
Foreign currency translation		34
Balance as of December 31, 2020	$	57,255
Goodwill acquired		4,340
Foreign currency translation		19
Balance at December 31, 2021	$	61,614

As discussed in Note 1, we recorded an impairment of $714,000 to the Canada reporting unit’s goodwill in December 2020.

Aggregate amortization expense for customer related intangibles, trade names, and technology for the years ended December 31, 2021, 2020 and 2019 was $320,000, $318,000, and $374,000, respectively. Estimated future amortization expense for 2022, 2023, 2024 and 2025 is $180,000, $140,000, $140,000 and $139,000, respectively.