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Goodwill and Intangible Assets

12 Months Ended

Dec. 31, 2021

3. Goodwill and Intangible Assets

The changes in the carrying amount of goodwill for the year ended December 31, 2021 was as follows (in thousands):


Balance as of January 1, 2021	$	2,150
Foreign currency translation adjustment		(7)
Balance as of December 31, 2021	$	2,143

On September 30, 2021, The Company performed its annual goodwill assessment for the Agility segment in accordance with the provisions of ASU 2017-04, by using a single-step approach that determines the carrying value of the reporting unit and compares it against the reporting unit’s fair value. 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 fair value measurement of goodwill for the Agility segment 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 approaches using 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. The carrying value of Goodwill was $2.1 million as of December 31, 2021, and 2020.

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


	Company Acquired Intangible Assets										Capitalized Developed Software
													Capitalized
					Trademarks				Media		Capitalized		Developed
	Developed		Customer		and				Contact		Developed		Software - in
	technology		relationships		trade names		Patents		Database		Software		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		2,005		2,381
Transfers		-		-		-		-		-		2,752		(2,752)		-
Foreign currency translation adjustment		(6)		-		(2)		-		(22)		(59)		22		(67)
Balance as of December 31, 2021	$	3,169	$	2,228	$	880	$	45	$	3,648	$	8,576	$	635	$	19,181
Accumulated amortization:
Balance as of January 1, 2021	$	1,844	$	1,192	$	629	$	29	$	1,650	$	1,492	$	-	$	6,836
Amortization expense		315		187		56		5		354		1,089		-		2,006
Foreign currency translation adjustment		(1)		(2)		-		-		1		(6)		-		(8)
Balance as of December 31, 2021	$	2,158	$	1,377	$	685	$	34	$	2,005	$	2,575	$	-	$	8,834
Net carrying amounts - December 31, 2021	$	1,011	$	851	$	195	$	11	$	1,643	$	6,001	$	635	$	10,347


													Capitalized
					Trademarks				Media		Capitalized		Developed
	Developed		Customer		and				Contact		Developed		Software - in
	technology		relationships		tradenames		Patents		Database		Software		Progress		Total
Gross carrying amounts:
Balance as of January 1, 2020	$	3,108	$	2,177	$	871	$	43	$	3,606	$	2,962	$	2,530	$	15,297
Additions		-		-		-		-		-		-		1,247		1,247
Transfers		-		-		-		-		-		2,538		(2,538)		-
Foreign currency translation adjustment		67		51		11		2		64		7		121		323
Balance as of December 31, 2020	$	3,175	$	2,228	$	882	$	45	$	3,670	$	5,507	$	1,360	$	16,867

Accumulated amortization:
Balance as of January 1, 2020	$	1,493	$	983	$	567	$	24	$	1,261	$	1,040	$	-	$	5,368
Amortization expense		308		179		55		4		361		469		-		1,376
Foreign currency translation adjustment		43		30		7		1		28		(17)		-		92
Balance as of December 31, 2020	$	1,844	$	1,192	$	629	$	29	$	1,650	$	1,492	$	-	$	6,836

Net carrying values - December 31, 2020	$	1,331	$	1,036	$	253	$	16	$	2,020	$	4,015	$	1,360	$	10,031

The Company reclassified capitalized developed software, net of accumulated amortization, of $5.4 million at December 31, 2020 from Property and Equipment to Intangibles to conform to the current year’s presentation.

Amortization expense relating to acquisition-related intangible assets was approximately $0.9 million for the years ended December 31, 2021 and 2020, respectively.

Amortization expense relating to capitalized developed software was approximately $1.1 million and $0.5 million for the years ended December 31, 2021 and 2020, respectively.

Estimated annual amortization expense for intangible assets subsequent to December 31, 2021 is as follows (in thousands):


Year	Amortization

2022	$	2,486
2023		2,196
2024		1,798
2025		1,211
2026		802
Thereafter		1,854
	$	10,347