Intangible Assets

3 Months Ended

Mar. 31, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Note 4 - Intangible Assets

The following table presents the components of net intangible assets (in thousands):


	As of March 31, 2021						As of December 31, 2020
	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Oblong (formerly Glowpoint)
Affiliate network	$	994	$	(752)	$	242	$	994	$	(735)	$	259

Oblong Industries
Developed technology	$	10,060	$	(3,024)	$	7,036	$	10,060	$	(2,520)	$	7,540
Trade names	2,410		(362)		2,048		2,410		(302)		2,108
Distributor relationships	310		(93)		217		310		(77)		233
Subtotal	12,780		(3,479)		9,301		12,780		(2,899)		9,881
Total	$	13,774	$	(4,231)	$	9,543	$	13,774	$	(3,634)	$	10,140

At each reporting period, we determine if there was a triggering event that may result in an impairment of our intangible assets. During the three months ended March 31, 2020, we considered the novel Coronavirus (COVID-19) pandemic and resulting declines in certain of the Company’s revenue to be a triggering event for an interim impairment test of intangible assets for both reporting units. Based on the corresponding recoverability test, we determined that no impairment charges were required for the three months ended March 31, 2020. During the three months ended March 31, 2021, we considered the decline in revenue for Oblong Industries to be a triggering event for an interim impairment test of intangible assets for this reporting unit. Based on the corresponding recoverability test of Oblong Industries’ intangible assets, we determined no impairment changes were required for the three months ended March 31, 2021. Intangible assets with finite lives are amortized using the straight-line method over the estimated economic lives of the assets, which range from five years to twelve years in accordance with ASC Topic 350.

The weighted average lives for the components of intangible assets are as follows:


Oblong (formerly Glowpoint)
Affiliate network			12 years


Oblong Industries
Developed technology			5 years
Trade names			10 years
Distributor relationships			5 years

Related amortization expense was $597,000 and $611,000 for the three months ended March 31, 2021 and 2020, respectively.

Amortization expense for each of the next five succeeding years will be as follows (in thousands):


Remainder of 2021	$	1,791
2022	2,386
2023	2,378
2024	1,843
2025	241
Thereafter	904
Total	$	9,543