XML 38 R19.htm IDEA: XBRL DOCUMENT
v3.22.0.1

Intangible Assets | 12 Months Ended
--- | ---
Dec. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract] |
Intangible Assets | Intangible Assets Intangible assets consisted of the following (in thousands):
| Gross Carrying Value |  | Accumulated Amortization |  | Net Carrying Value
Distribution networks | $ | 38,060 |  |  | $ | 38,060 |  |  | $ | — |
Completed technologies | 24,217 |  |  | 15,234 |  |  | 8,983 |
Customer relationships | 10,578 |  |  | 7,891 |  |  | 2,687 |
Non-compete agreements | 710 |  |  | 492 |  |  | 218 |
Trademarks | 110 |  |  | 110 |  |  | — |
Balance as of December 31, 2021 | $ | 73,675 |  |  | $ | 61,787 |  |  | $ | 11,888 |
| Gross Carrying Value |  | Accumulated Amortization |  | Net Carrying Value
Distribution networks | $ | 38,060 |  |  | $ | 38,060 |  |  | $ | — |
Completed technologies | 24,217 |  |  | 12,397 |  |  | 11,820 |
Customer relationships | 10,578 |  |  | 7,160 |  |  | 3,418 |
Non-compete agreements | 710 |  |  | 436 |  |  | 274 |
Trademarks | 110 |  |  | 67 |  |  | 43 |
Balance as of December 31, 2020 | $ | 73,675 |  |  | $ | 58,120 |  |  | $ | 15,555 |
The adverse impact of the COVID-19 pandemic on our business in 2020 triggered a review of long-lived assets, including intangible assets, for potential impairment during the second quarter of 2020. Based on this assessment, management concluded that certain of the Company's finite-lived intangible assets failed the recoverability test, and recorded impairment charges for these assets equal to the amount by which their carrying value exceeded their fair value. The Company also measured the fair value and recorded an impairment charge for its indefinite-lived intangible asset related to in-process technologies. The fair values were established, with the assistance of an outside valuation advisor, using the income approach based on a discounted cash flow model that estimated future revenue streams and expenses attributable to those revenue streams provided by management. This review resulted in intangible asset impairment charges totaling $19,571,000 in the second quarter of 2020, primarily related to lower projected cash flows from the technologies and customer relationships acquired from Sualab Co. Ltd. ("Sualab") as a result of the deteriorating global economic conditions from the COVID-19 pandemic. Completed technologies, in-process technologies, and customer relationships acquired from Sualab were impaired in the amounts of $10,070,000, $5,900,000, and $3,382,000, respectively. In addition, customer relationships acquired from EnShape GmbH that had a gross carrying value of $447,000 and accumulated amortization of $228,000 on the measurement date were reduced to zero, resulting in an impairment charge of $219,000. The Company did not record impairment charges related to intangible assets in 2021 or 2019. Estimated amortization expense for each of the five succeeding fiscal years and thereafter is as follows (in thousands):
Year Ended December 31, |  | Amount
2022 |  | $ | 3,275 |
2023 |  | 2,594 |
2024 |  | 2,080 |
2025 |  | 1,757 |
2026 |  | 1,452 |
Thereafter |  | 730 |
|  | $ | 11,888 |

X
- References No definition available. + Details
Name: | us-gaap_GoodwillAndIntangibleAssetsDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for all or part of the information related to intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -URI http://asc.fasb.org/topic&trid=2144416 + Details
Name: | us-gaap_IntangibleAssetsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration