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Intangible Assets, Net and Goodwill | 12 Months Ended
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Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Intangible Assets Disclosure [Text Block] |
NOTE 5 — INTANGIBLE ASSETS, NET AND GOODWILL
INTANGIBLE ASSETS, NET Intangible assets, net consisted of the following:
|  | As of December 31, |  |
(in thousands) |  | 2024 |  | 2023 |  |
Intangible assets with definite lives: |  |  |  |  |  |
Patents and purchased technology |  | $ | 14,198 |  |  | $ | 14,198 |  |  |
Customer relationships |  | 23,000 |  |  | 23,000 |  |  |
Gross carrying amount |  | 37,198 |  |  | 37,198 |  |  |
Accumulated amortization: |  |  |  |  |  |
Patents and purchased technology |  | (14,198) |  |  | (14,198) |  |  |
Customer relationships |  | (23,000) |  |  | (22,313) |  |  |
Accumulated amortization |  | (37,198) |  |  | (36,511) |  |  |
Net carrying amount |  | — |  |  | 687 |  |  |
Intangible assets with indefinite lives |  | 79,221 |  |  | 79,221 |  |  |
Intangible assets, net |  | $ | 79,221 |  |  | $ | 79,908 |  |  |
ntangible assets subject to amortization were fully amortized as of December 31, 2024. Amortization expense for intangible assets subject to amortization was $0.7 million for the year ended December 31, 2024 and $1.7 million for the years ended December 31, 2023 and 2022. For the years ended December 31, 2024 and 2023, there was no im pairment recorded for intangible assets with indefinite lives. For the year ended December 31, 2022, an impairment charge of $18.7 million was recorded for the impairment of prAna's trademark and trade name (collectively, "trademark"). The impairment of the prAna trademark was determined as part of the annual impairment test. The decline in estimated fair value from the fourth quarter 2021 impairment test reflected a decline in forecasted revenue, a lower estimated royalty rate, and a slightly higher discount rate. GOODWILL The following table sets forth the changes in Goodwill.
(in thousands) |  |
Balance as of December 31, 2022 |  |  |  |
Goodwill |  | $ | 73,208 |  |  |
Accumulated impairment losses |  | (21,514) |  |  |
Carrying value |  | 51,694 |  |  |
Impairment losses during 2023 |  | (25,000) |  |  |
Balance as of December 31, 2023 |  |  |  |
Goodwill |  | 73,208 |  |  |
Accumulated impairment losses |  | (46,514) |  |  |
Carrying value |  | 26,694 |  |  |
Impairment losses during 2024 |  | — |  |  |
Balance as of December 31, 2024 |  |  |  |
Goodwill |  | 73,208 |  |  |
Accumulated impairment losses |  | (46,514) |  |  |
Carrying value |  | $ | 26,694 |  |  |
Substantially all of the Company's goodwill is recorded in the U.S. segment. For the year ended December 31, 2024, there was no impairment recorded for goodwill. For the years ended December 31, 2023 and 2022, an impairment charge of $25.0 million and $16.9 million was recorded for the impairment of goodwill attributable to the prAna reporting unit, respectively. The impairment of the goodwill attributable to the prAna reporting unit was determined as part of the annual impairment test. For the year ended December 31, 2023, the decline in estimated fair value from the fourth quarter 2022 impairment test reflected an increase in the weighted-average cost of capital used in the discounted cash flow model and lower operating income levels. For the year ended December 31, 2022, the decline in estimated fair value from the fourth quarter 2021 impairment test reflected lower assumed revenue and operating income levels, while the weighted-average cost of capital used in the discounted cash flow model remained relatively unchanged.

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-30/tableOfContent Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-20/tableOfContent + Details
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