Goodwill and Other Intangibles

6 Months Ended

Jun. 30, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Note 5 – Goodwill and Other Intangibles

Goodwill

Changes in the carrying amount of goodwill, by reportable segment, for the six months ended June 30, 2022 was as follows:


	Automotive			Medical			Total
Balance as of December 31, 2021	$	37,329		$	28,704		$	66,033
Exchange rate impact		(2,240	)		(858	)		(3,098	)
Balance as of June 30, 2022	$	35,089		$	27,846		$	62,935

Other Intangible Assets

Other intangible assets and accumulated amortization balances as of June 30, 2022 and December 31, 2021 were as follows:


	June 30, 2022							December 31, 2021
	Gross Carrying Value		Accumulated Amortization			Net Carrying Value		Gross Carrying Value		Accumulated Amortization			Net Carrying Value
Definite-lived:
Customer relationships	$	82,828	$	(60,761	)	$	22,067	$	90,448	$	(64,105	)	$	26,343
Technology		27,236		(23,411	)		3,825		29,464		(24,487	)		4,977
Product development costs		18,243		(17,844	)		399		20,329		(19,772	)		557
Software development		1,007		—			1,007		1,007		—			1,007
Indefinite-lived:
Tradenames		4,670		—			4,670		4,670		—			4,670
Total	$	133,984	$	(102,016	)	$	31,968	$	145,918	$	(108,364	)	$	37,554

In addition to annual impairment testing, which is performed in the fourth quarter of each fiscal year, the Company continuously monitors for events and circumstances that could negatively impact the key assumptions used in determining fair value and therefore require interim impairment testing, including long-term revenue growth projections, profitability, discount rates, recent market valuations from transactions by comparable companies, volatility in the Company's market capitalization, and general industry, market and macroeconomic conditions. We are not presently aware of any events or circumstances that would require us to revise the carrying value of our assets or liabilities as of June 30, 2022.