XML 19 R8.htm IDEA: XBRL DOCUMENT

Goodwill and Intangible Assets

9 Months Ended

Sep. 30, 2021

2. Goodwill and Intangible Assets

The Company completed its annual impairment analysis procedures on its reporting units as of September 30, 2021. The Company determined that there was no impairment of long-lived assets, tangible or intangible, in any reporting units as of September 30, 2021.

The change in the carrying amount of goodwill for the nine months ended September 30, 2021 was as follows (in thousands):


Balance as of January 1, 2021	$	2,150
Foreign currency translation adjustment		(7)
Balance as of September 30, 2021	$	2,143

The fair value measurement of goodwill was classified within Level 3 of the fair value hierarchy because the Company used the income approach, which utilizes significant inputs that are unobservable in the market and the market multiple approach which utilizes comparable entities to further validate the carrying values. The Company believes it made reasonable estimates and assumptions to calculate the fair value of the reporting unit as of the impairment test measurement date.

Information regarding the Company acquired intangible assets and capitalized developed software was as follows (in thousands):


	Company Acquired Intangible Assets										Capitalized Developed Software
													Capitalized
											Capitalized		Software
Balance as of September 30, 2021					Trademarks				Media		Software		Development
	Developed		Customer		and				Contact		Development		Cost - Work in
	technology		relationships		tradenames		Patents		Database		Cost		Progress		Total
Gross carrying amounts:
Balance as of January 1, 2021	$	3,175	$	2,228	$	882	$	45	$	3,670	$	5,507	$	1,360	$	16,867
Additions		-		-		-		-		-		376		1,357		1,733
Transfers		-		-		-		-		-		2,323		(2,323)		-
Foreign currency translation		(6)		-		(2)		-		(23)		(54)		24		(61)
Balance as of September 30, 2021	$	3,169	$	2,228	$	880	$	45	$	3,647	$	8,152	$	418	$	18,539

Accumulated amortization:
Balance as of January 1, 2021	$	1,844	$	1,192	$	629	$	29	$	1,650	$	1,492	$	-	$	6,836
Amortization expense		233		138		41		3		261		778		-		1,454
Foreign currency translation		2		1		-		1		2		(2)		-		4
Balance as of September 30, 2021	$	2,079	$	1,331	$	670	$	33	$	1,913	$	2,268	$	-	$	8,294

Net carrying values - September 30, 2021	$	1,090	$	897	$	210	$	12	$	1,734	$	5,884	$	418	$	10,245

The Company reclassified capitalized developed software, net of accumulated amortization, of $6.3 million and $5.4 million as of September 30, 2021 and December 31, 2020, respectively, from Property and equipment to Intangibles.

Amortization expense relating to Company acquired intangible assets was $0.2 million for the three months ended September 30, 2021 and $0.7 million for the nine months ended September 30, 2021.

Amortization expense relating to capitalized developed software was $0.3 million for the three months ended September 30, 2021 and $0.8 million for the nine months ended September 30, 2021.

As of September 30, 2021, estimated future amortization expense for intangible assets was as follows (in thousands):


Year	Amortization
2021	$	532
2022		2,203
2023		2,018
2024		1,590
2025		1,215
Thereafter		2,687
	$	10,245