Intangible Assets and Goodwill

9 Months Ended

Sep. 30, 2020

Goodwill And Intangible Assets Disclosure [Abstract]

Note 9 – Intangible Assets and Goodwill

Identifiable intangible assets

The Company’s identifiable intangible assets are associated with its acquisitions of HGP in 2012 and NLEX in 2014, as shown in the table below (in thousands), and are amortized using the straight-line method over their remaining estimated useful lives of three to five years. The Company’s tradename acquired as part of the acquisition of NLEX in 2014 has an indefinite life and therefore is not amortized.

	Carrying Value					Carrying Value
	December 31,					September 30,
Amortized Intangible Assets	2019		Amortization			2020
Customer Network (HGP)	$	92	$	(24	)	$	68
Trade Name (HGP)		642		(96	)		546
Customer Relationships (NLEX)		221		(82	)		139
Total		955		(202	)		753

Unamortized Intangible Assets
Trade Name (NLEX)		2,437		—			2,437
Total	$	3,392	$	(202	)	$	3,190

Amortization expense during each of the nine months ended September 30, 2020 and 2019 was $0.2 million.

The estimated amortization expense as of September 30, 2020 during the remainder of the current fiscal year and the next four fiscal years is shown below (in thousands):

Year	Amount
2020 (remainder of year from October 1, 2020 to December 31, 2020)	$	67
2021		270
2022		159
2023		129
2024		128
Total	$	753

Goodwill

The Company’s goodwill is related to its asset liquidation business and is comprised of goodwill from two acquisitions, as shown in the table below (in thousands). There were no additions to goodwill and no impairment losses to the carrying amount of goodwill during the nine months ended September 30, 2020.

Acquisition	September 30, 2020		December 31, 2019
HGP	$	2,040	$	2,040
NLEX		3,545		3,545
Total goodwill	$	5,585	$	5,585