Note 11 - Goodwill and Other Intangible Assets

12 Months Ended

Jan. 31, 2022

Notes to Financial Statements

Goodwill and Intangible Assets Disclosure [Text Block]

11. Goodwill and Other Intangible Assets

Goodwill and other intangible assets from continuing operations consisted of the following:

			January 31, 2022										January 31, 2021
	Weighted
	Average		Gross								Net		Gross								Net
	Life at		Carrying		Accumulated						Carrying		Carrying		Accumulated						Carrying
	1/31/2022		Amount		Amortization			Impairment			Amount		Amount		Amortization			Impairment			Amount
			(in thousands)										(in thousands)
Goodwill			$	7,060	$	—		$	(7,060	)	$	—	$	7,060	$	—		$	(7,060	)	$	—
Proprietary rights		6.0	$	8,237	$	(4,150	)		—			4,087	$	7,781	$	(3,688	)		—			4,093
Customer relationships		0.4		5,024		(4,797	)		—			227		5,024		(4,513	)		—			511
Patents		2.9		2,540		(1,778	)		—			762		2,440		(1,528	)		—			912
Trade name		4.3		894		(85	)		(760	)		49		894		(74	)		(760	)		60
Developed technology		3.9		1,430		(870	)		—			560		1,430		(727	)		—			703
Other		2.3		694		(361	)		—			333		684		(213	)		—			471
Amortizable intangible assets			$	18,819	$	(12,041	)	$	(760	)	$	6,018	$	18,253	$	(10,743	)	$	(760	)	$	6,750

As of January 31, 2022, the Company completed its annual review of intangible assets. Based on a review of qualitative factors it was determined it was more likely than not that the fair value of our Seamap and Klein reporting units was greater than their carrying value. As a result, we did not record an impairment charge related to intangible assets in the Seamap and Klein reporting units in fiscal 2022.

As of January 31, 2021, the Company completed its annual review of intangible assets. Based on a review of qualitative factors it was determined it was more likely than not that the fair value of our Seamap reporting unit was greater than its carrying value. Based on a review of qualitative and quantitative factors it was determined it was more likely than not that the fair value of our Klein reporting unit was greater than its carrying value. Accordingly, we did not record an impairment charge related to intangible assets in the Seamap and Klein reporting units in fiscal 2021.

As of  January 31, 2021, the Company has recorded impairment expense equal to 100% of the gross carrying amount of goodwill. As a result, no further review of goodwill is required. Due to the economic impact of the global pandemic, the decline in oil prices during the three months ended April 30, 2020, and a decline in the market value of the Company’s equity securities, the Company performed a quantitative review of the Seamap reporting unit and concluded that goodwill had been impaired. As a result, the Company recorded an impairment expense of approximately $2.5 million related to goodwill in the Seamap reporting unit during the quarter ended April 30, 2020.

Aggregate amortization expense was $1.3 million, and $1.8 million for fiscal 2022 and fiscal 2021, respectively. As of January 31, 2022, future estimated amortization expense related to amortizable intangible assets is estimated to be (in thousands):

For fiscal year ending January 31:
2023	$	1,185
2024		1,050
2025		820
2026		726
2027		425
Thereafter		1,812
Total	$	6,018