Goodwill

12 Months Ended

Dec. 31, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill

Goodwill

During the second quarter of 2020, the Company acquired 100% ownership of JP3, a privately-held data and analytics technology company, in a cash-and-stock transaction. The Company identified the acquired company as the DA segment, a new operating segment. See Note 3, “Business Combination.” The Company recorded goodwill of $17.5 million at the date of acquisition.

During the third quarter of 2020, the Company identified a triggering event under ASC 350, Intangibles — Goodwill and Other, and completed an impairment analysis at the DA reporting unit level. During the third quarter of 2020, the Company recognized a goodwill impairment charge of $11.7 million.

Also, during the third quarter of 2020, the Company made certain measurement period adjustments to inventory obtained in the JP3 acquisition, resulting in an increase of goodwill of $2.3 million. See Note 6, “Inventories.”

Changes in the carrying amount of goodwill are as follows (in thousands):

Activity during the year ended December 31, 2020:
Acquisition goodwill recognized	$	17,522
Measurement period adjustment	2,276
Goodwill impairment recognized	(11,706)
Goodwill balance, net of impairment	$	8,092
Balance at December 31, 2020:
Goodwill	$	19,798
Accumulated impairment losses	(11,706)
Goodwill balance, net of impairment	$	8,092