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Note 10 - Identified Intangible Assets

9 Months Ended

Sep. 30, 2022

Intangible Assets Disclosure [Text Block]

10. IDENTIFIED INTANGIBLE ASSETS

A schedule of identified intangible assets is as follows:

	Gross		Accumulated		Carrying
($ in thousands)	Amount		Amortization		Amount
September 30, 2022
Trademarks
Wholesale ⁽¹⁾	$	71,981		-	$	71,981
Retail ⁽²⁾		9,220		-		9,220
Patents		895	$	821		74
Customer relationships ⁽³⁾		46,006		4,729		41,277
Total Intangibles	$	128,102	$	5,550	$	122,552

⁽¹⁾ $45.4 million of the total resulted from our Acquisition that occurred on March 15, 2021. NEOS trademarks were reduced from approximately $0.6 million to zero at September 30, 2022 as a result of the sale of the NEOS brand (see Note 5).

⁽²⁾ $6.3 million of the total resulted from our Acquisition that occurred on March 15, 2021.

⁽³⁾ Resulted from our Acquisition that occurred on March 15, 2021. Customer relationships relating to the NEOS brand of approximately $0.9 million and related amortization of approximately $0.1 million was reduced to zero at September 30, 2022 as a result of the sale of the NEOS brand (see Note 5).

	Gross		Accumulated		Carrying
($ in thousands)	Amount		Amortization		Amount
December 31, 2021
Trademarks
Wholesale ⁽¹⁾	$	72,579		-	$	72,579
Retail ⁽²⁾		9,220		-		9,220
Patents		895	$	804		91
Customer relationships ⁽³⁾		46,900		2,475		44,425
Total Intangibles	$	129,594	$	3,279	$	126,315

⁽¹⁾ $45.4 million of the total resulted from our Acquisition that occurred on March 15, 2021.

⁽²⁾ $6.3 million of the total resulted from our Acquisition that occurred on March 15, 2021.

⁽³⁾ Resulted from our Acquisition that occurred on March 15, 2021.

	Gross		Accumulated		Carrying
($ in thousands)	Amount		Amortization		Amount
September 30, 2021
Trademarks
Wholesale ⁽¹⁾	$	72,592		-	$	72,592
Retail ⁽²⁾		9,220		-		9,220
Patents		895	$	797		98
Customer relationships ⁽³⁾		46,900		1,694		45,206
Total Intangibles	$	129,607	$	2,491	$	127,116

⁽¹⁾ $45.4 million of the total resulted from our Acquisition that occurred on March 15, 2021.

⁽²⁾ $6.3 million of the total resulted from our Acquisition that occurred on March 15, 2021.

⁽³⁾ Resulted from our Acquisition that occurred on March 15, 2021.

The weighted average life for our patents is 7.2 years.

A schedule of approximate amortization expense related to finite-lived intangible assets for the three and nine months ended September 30, 2022 and 2021 is as follows:

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
($ in thousands)	2022		2021		2022		2021
Amortization expense	$	788	$	788	$	2,362	$	1,713

A schedule of approximate expected remaining amortization expense related to finite-lived intangible assets for the years ending December 31, is as follows:

	Amortization
($ in thousands)	Expense
2022	$	770
2023		3,011
2024		3,074
2025		3,070
2026		3,067
2027		3,064
2028+		25,295