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Note 14 - Goodwill and Other Intangible Assets | 9 Months Ended
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Sep. 30, 2024
Notes to Financial Statements |
Intangible Assets Disclosure [Text Block] |
(14) | Goodwill and Other Intangible Assets
The changes in the carrying amount of goodwill for the nine months ended September 30, 2024 are as follows (in thousands):
|  | Goodwill |
December 31, 2023 |  | $ | 113,263 |
Acquired in Marble Medical business combination |  |  | 2,564 |
Acquired in AJR Enterprises business combination |  |  | 41,710 |
Acquired in Welch Fluorocarbon business combination |  |  | 19,367 |
Acquired in AQF business combination |  |  | 27,651 |
Foreign currency translation |  |  | 177 |
September 30, 2024 |  | $ | 204,732 |
The carrying values of the Company’s definite lived intangible assets as of September 30, 2024 are as follows (in thousands):
|  | Intelletual Property / Tradename & Brand |  |  | Non- Compete |  |  | Customer List |  |  | Total |
Weighted-average amortization period |  |  | 12.0 years |  |  |  | 8.8 years |  |  |  | 20.0 years |  |  |  |  |
Gross amount |  | $ | 25,931 |  |  | $ | 6,791 |  |  | $ | 120,008 |  |  | $ | 152,730 |
Accumulated amortization |  |  | (2,085 | ) |  |  | (1,971 | ) |  |  | (13,956 | ) |  |  | (18,012 | )
Net balance |  | $ | 23,846 |  |  | $ | 4,820 |  |  | $ | 106,052 |  |  | $ | 134,718 |
Amortization expense related to intangible assets was approximately $2.0 million and $4.2 million for the three- and nine-month periods ended September 30, 2024, respectively, and $1.0 million and $3.1 million for the three- and nine-month periods ended September 30, 2023, respectively. The estimated remaining amortization expense as of September 30, 2024 is as follows (in thousands):
Remainder of 2024 |  | $ | 2,177 |
2025 |  |  | 8,710 |
2026 |  |  | 8,707 |
2027 |  |  | 8,654 |
2028 |  |  | 8,551 |
2029 |  |  | 8,604 |
Thereafter |  |  | 89,315 |
Total |  | $ | 134,718 |

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