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Note 14 - Goodwill and Other Intangible Assets
 9 Months Ended
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