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Goodwill and Other Intangibles
 9 Months Ended
Sep. 30, 2021
Goodwill And Intangible Assets Disclosure [Abstract]  
Goodwill and Other Intangibles

Note 5 – Goodwill and Other Intangibles

 

Goodwill

Changes in the carrying amount of goodwill, by reportable segment, for the nine months ended September 30, 2021 was as follows:

 

 

 

Automotive

 

 

Medical

 

 

Total

 

Balance as of December 31, 2020

 

$

39,495

 

 

$

28,529

 

 

$

68,024

 

Acquisition of B&E

 

 

—

 

 

 

976

 

 

 

976

 

Exchange rate impact

 

 

(1,634

)

 

 

(597

)

 

 

(2,231

)

Balance as of September 30, 2021

 

$

37,861

 

 

$

28,908

 

 

$

66,769

 

 

Other Intangible Assets

Other intangible assets and accumulated amortization balances as of September 30, 2021 and December 31, 2020 were as follows:

 

 

Gross

Carrying Value

 

 

Accumulated

Amortization

 

 

Net Carrying

Value

 

Definite-lived:

 

 

 

 

 

 

 

 

 

 

 

 

Customer relationships

 

$

92,257

 

 

$

(63,990

)

 

$

28,267

 

Technology

 

 

29,993

 

 

 

(24,423

)

 

 

5,570

 

Product development costs

 

 

20,781

 

 

 

(20,148

)

 

 

633

 

Indefinite-lived:

 

 

 

 

 

 

 

 

 

 

 

 

Tradenames

 

 

4,670

 

 

 

—

 

 

 

4,670

 

Balance as of September 30, 2021

 

$

147,701

 

 

$

(108,561

)

 

$

39,140

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Gross

Carrying Value

 

 

Accumulated

Amortization

 

 

Net Carrying

Value

 

Definite-lived:

 

 

 

 

 

 

 

 

 

 

 

 

Customer relationships

 

$

97,815

 

 

$

(63,432

)

 

$

34,383

 

Technology

 

 

30,615

 

 

 

(24,075

)

 

 

6,540

 

Product development costs

 

 

22,164

 

 

 

(21,336

)

 

 

828

 

Indefinite-lived:

 

 

 

 

 

 

 

 

 

 

 

 

Tradenames

 

 

4,670

 

 

 

—

 

 

 

4,670

 

Balance as of December 31, 2020

 

$

155,264

 

 

$

(108,843

)

 

$

46,421

 

 

     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 September 30, 2021.