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Note 13 - Goodwill and Other Intangible Assets

9 Months Ended

Sep. 30, 2023

Intangible Assets Disclosure [Text Block]

(13)

Goodwill and Other Intangible Assets

The change in the carrying amount of goodwill for the nine months ended September 30, 2023 was as follows (in thousands):

	Goodwill

December 31, 2022	$	113,028
Foreign currency translation		(60	)
September 30, 2023	$	112,968

The carrying values of the Company’s definite lived intangible assets as of September 30, 2023 are as follows (in thousands):

	Intellectual Property / Tradename & Brand			Non- Compete			Customer List			Total
Weighted-average amortization period (years)	11.9			9.3			20
Gross amount	$	7,046		$	5,495		$	65,149		$	77,690
Accumulated amortization		(1,170	)		(1,392	)		(10,108	)		(12,670	)
Net balance	$	5,876		$	4,103		$	55,041		$	65,020

Amortization expense related to intangible assets was approximately $1.0 million and $1.1 million, respectively, for the three-month periods ended September 30, 2023 and 2022, and $3.1 million and $3.3 million, respectively, for the nine-month periods ended September 30, 2023 and 2022. The estimated remaining amortization expense as of September 30, 2023 is as follows (in thousands):

Remainder of 2023	$	1,100
2024		4,401
2025		4,401
2026		4,399
2027		4,397
2028		4,350
Thereafter		41,972
Total	$	65,020