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Note 14 - Intangible Assets, Net

12 Months Ended

Dec. 31, 2021

Intangible Assets Disclosure [Text Block]

14. Intangible assets, net

The following table summarizes our intangible assets comprising of Customer Relationships & Contracts (“CR&C”), Trademarks, Technology and Software as of December 31, 2021 and 2020 (in thousands):

	*December 31, 2021*							*December 31, 2020*							*December 31, 2021*
			*Accumulated*							*Accumulated*					*Weighted*
	*Gross*		*impairment*					*Gross*		*impairment*					*average*
	*carrying*		*and*			*Net book*		*carrying*		*and*			*Net book*		*remaining*
	*amount*		*amortization*			*value*		*amount*		*amortization*			*value*		*life (years)*
CR&C	$	222,200	$	(98,271	)	$	123,929	$	215,200	$	(78,846	)	$	136,354		6.3
Trademarks		57,100		(29,392	)		27,708		40,100		(27,137	)		12,963		8.4
Technology		159,458		(60,979	)		98,479		79,538		(56,635	)		22,903		13.3
Software		8,754		(5,817	)		2,937		7,387		(6,439	)		948		0.7
Total	$	447,512	$	(194,459	)	$	253,053	$	342,225	$	(169,057	)	$	173,168		9.3

Amortization expense for intangible assets was $28.1 million, $28.2 million and $34.5 million for the years ended December 31, 2021, 2020 and 2019, respectively.

The following table summarizes the intangible assets which were acquired pursuant to the Merger (in thousands):

	*Acquired Fair Value*		*Weighted average life*
CR&C	$	7,000		10.0
Trademarks		17,000		10.0
Technology		79,920		15.0
Software		871		1.0
Total	$	104,791		13.7

No impairment expense associated with our intangible assets was recognized during the year ended December 31, 2021. We recognized impairment expense associated with our intangible assets of $60.4 million and $17.9 million for the years ended December 31, 2020 and 2019, respectively, which is included in “Impairment expense” in our consolidated statement of operations. Refer to Note 4 “Fair value measurements” for further details.

The following table summarizes our intangible asset impairment expense by operating segment for the years ended December 31, 2020 and 2019 (in thousands):

2020:	*CR&C*		*Technology*		*Trademarks*		*Total*
NLA	$	10,262	$	20,616	$	11,437	$	42,315
ESSA		-		6,909		4,070		10,979
APAC		-		7,100		-		7,100
Total	$	10,262	$	34,625	$	15,507	$	60,394

2019:	*CR&C*		*Technology*		*Trademarks*		*Total*
NLA	$	-	$	3,809	$	-	$	3,809
ESSA		7,760		4,712		1,620		14,092
Total	$	7,760	$	8,521	$	1,620	$	17,901

Expected future intangible asset amortization as of December 31, 2021 is as follows (in thousands):

Years ending December 31,
2022	$	34,691
2023		31,755
2024		31,755
2025		31,755
2026		31,755
Thereafter		91,342
Total	$	253,053