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Intangible Assets and Goodwill
 12 Months Ended
Dec. 31, 2021
Goodwill And Intangible Assets Disclosure [Abstract]  
Intangible Assets and Goodwill

Note 10 – Intangible Assets and Goodwill

Intangible assets

The details of identifiable intangible assets as of December 31, 2021 and 2020 are shown below (in thousands except for lives):

 

Amortized Intangible Assets

 

Original
Life
(years)

 

 

Remaining
Life
(years)

 

 

Carrying
Value
December 31,
2020

 

 

Intangible
Assets
Acquired

 

 

Amortization

 

 

Carrying
Value
December 31,
2021

 

Customer Relationships (HGP)

 

 

12

 

 

 

1.0

 

 

$

62

 

 

$

—

 

 

$

(32

)

 

$

30

 

Trade Name (HGP)

 

 

14

 

 

 

3.0

 

 

 

513

 

 

 

—

 

 

 

(128

)

 

 

386

 

Customer Relationships (NLEX)

 

 

7.6

 

 

 

—

 

 

 

111

 

 

 

—

 

 

 

(110

)

 

 

—

 

Vendor Relationships (ALT)

 

 

5

 

 

 

4.7

 

 

 

—

 

 

 

1,150

 

 

 

(77

)

 

 

1,073

 

Trade Name (ALT)

 

 

20

 

 

 

19.7

 

 

 

—

 

 

 

650

 

 

 

(11

)

 

 

639

 

Total

 

 

 

 

 

 

 

 

686

 

 

 

1,800

 

 

 

(358

)

 

 

2,128

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Unamortized Intangible Assets

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Trade Name (NLEX)

 

N/A

 

 

N/A

 

 

 

2,437

 

 

 

—

 

 

 

—

 

 

 

2,437

 

Total

 

 

 

 

 

 

 

$

3,123

 

 

$

1,800

 

 

$

(358

)

 

$

4,565

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Amortized Intangible Assets

 

Original
Life
(years)

 

 

Remaining
Life
(years)

 

 

Carrying
Value
December 31,
2019

 

 

Intangible
Assets
Acquired

 

 

Amortization

 

 

Carrying
Value
December 31,
2020

 

Customer Relationships (HGP)

 

 

12

 

 

 

2.0

 

 

$

92

 

 

$

—

 

 

$

(30

)

 

$

62

 

Trade Name (HGP)

 

 

14

 

 

 

4.0

 

 

 

642

 

 

 

—

 

 

 

(129

)

 

 

513

 

Customer Relationships (NLEX)

 

 

7.6

 

 

 

1

 

 

 

221

 

 

 

—

 

 

 

(110

)

 

 

111

 

Total

 

 

 

 

 

 

 

 

955

 

 

 

—

 

 

 

(269

)

 

 

686

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Unamortized Intangible Assets

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Trade Name (NLEX)

 

N/A

 

 

N/A

 

 

 

2,437

 

 

 

—

 

 

 

—

 

 

 

2,437

 

Total

 

 

 

 

 

 

 

$

3,392

 

 

$

—

 

 

$

(269

)

 

$

3,123

 

 

Amortization expense during each of 2021 and 2020 was $0.4 million and $0.3 million, respectively. No significant residual value is estimated for these intangible assets.

The Company performed its annual impairment test for the year ended December 31, 2021, in the fourth quarter, and determined that no impairment charges were necessary.

The estimated amortization expense during future years is shown below (in thousands):

 

Year

 

Amount

 

2022

 

$

421

 

2023

 

 

391

 

2024

 

 

391

 

2025

 

 

262

 

2026

 

 

186

 

Thereafter

 

 

477

 

Total

 

$

2,128

 

 

Goodwill

As part of its acquisitions, the Company recognized goodwill of $2.0 million related to HGP in 2012, $3.5 million related to NLEX in 2014, and $1.9 million related to ALT in 2021.

Goodwill consisted of the following at December 31, 2021 and 2020 (in thousands):

 

Acquisition

 

December 31,
2021

 

 

December 31,
2020

 

HGP

 

 

2,040

 

 

 

2,040

 

NLEX

 

 

3,545

 

 

 

3,545

 

ALT

 

 

1,861

 

 

 

—

 

Total goodwill

 

$

7,446

 

 

$

5,585

 

 

The Company performed its annual impairment test for the year ended December 31, 2021, in the fourth quarter, and determined that no additional impairment charges were necessary.