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Note 7 - Goodwill and Other Intangible Assets | 12 Months Ended
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Dec. 31, 2023
Notes to Financial Statements |
Intangible Assets Disclosure [Text Block] |
(7) | Goodwill and Other Intangible Assets
The changes in the carrying amount of goodwill for the years ended December 31, 2023 and 2022 are as follows (in thousands):
|  | 2023 |  |  | 2022 |
Opening balance |  | $ | 113,028 |  |  | $ | 107,905 |
Acquired in business combinations (See Note 2) |  |  | - |  |  |  | 7,140 |
DAS working capital adjustment |  |  | - |  |  |  | 196 |
DAS opening balance sheet reclassification |  |  | - |  |  |  | (243 | )
Sale of Molded Fiber |  |  | - |  |  |  | (1,778 | )
Foreign currency translation |  |  | 235 |  |  |  | (192 | )
Ending balance |  | $ | 113,263 |  |  | $ | 113,028 |
The carrying values of the Company’s definite-lived intangible assets as of December 31, 2023 and 2022 are as follows (in thousands):
December 31, 2023 |  | Customer List |  |  | Intellectual Property / Tradename & Brand |  |  | Non- Compete |  |  | Total |
Weighted-average useful life |  | 20 years |  |  | 11.9 years |  |  | 9.3 years |  |  |  |  |
Gross amount |  | $ | 65,270 |  |  | $ | 7,134 |  |  | $ | 5,505 |  |  | $ | 77,909 |
Accumulated amortization |  |  | (10,932 | ) |  |  | (1,331 | ) |  |  | (1,530 | ) |  | $ | (13,793 | )
Net balance |  | $ | 54,338 |  |  | $ | 5,803 |  |  | $ | 3,975 |  |  | $ | 64,116 |
December 31, 2022 |  | Customer List |  |  | Intellectual Property / Tradename & Brand |  |  | Non- Compete |  |  | Total |
Weighted-average useful life |  | 20 years |  |  | 11.9 years |  |  | 9.3 years |  |  |  |  |
Gross amount |  | $ | 65,174 |  |  | $ | 7,064 |  |  | $ | 5,497 |  |  | $ | 77,735 |
Accumulated amortization |  |  | (7,665 | ) |  |  | (727 | ) |  |  | (982 | ) |  | $ | (9,374 | )
Net balance |  | $ | 57,509 |  |  | $ | 6,337 |  |  | $ | 4,515 |  |  | $ | 68,361 |
Amortization expense related to intangible assets was approximately $4.4 million, $4.4 million, and $1.3 million for the years ended December 31, 2023, 2022, and 2021, respectively. The estimated remaining amortization expense as of December 31, 2023 is as follows (in thousands):
2024 |  | $ | 4,401 |
2025 |  |  | 4,401 |
2026 |  |  | 4,399 |
2027 |  |  | 4,397 |
2028 |  |  | 4,350 |
Thereafter |  |  | 42,168 |
Total |  | $ | 64,116 |

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