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Note 14 - Intangible Assets, Net

3 Months Ended

Mar. 31, 2022

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 March 31, 2022 and December 31, 2021 (in thousands):

	March 31, 2022							December 31, 2021							March 31, 2022
	Gross carrying amount		Accumulated impairment and amortization			Net book value		Gross carrying amount		Accumulated impairment and amortization			Net book value		Weighted average remaining life (years)
CR&C	$	222,200	$	(103,259	)	$	118,941	$	222,200	$	(98,271	)	$	123,929		6.1
Trademarks		57,100		(30,275	)		26,825		57,100		(29,392	)		27,708		8.2
Technology		170,652		(63,162	)		107,490		159,458		(60,979	)		98,479		12.3
Software		8,754		(6,986	)		1,768		8,754		(5,817	)		2,937		0.5
Total	$	458,706	$	(203,682	)	$	255,024	$	447,512	$	(194,459	)	$	253,053

Amortization expense for intangible assets was $9.0 million and $6.4 million for the three months ended March 31, 2022 and 2021, respectively. During the first quarter of 2022, we acquired technology to bolster our well intervention and integrity product offering, resulting in an increase in intangible assets of $11.2 million which will be amortized over a five-year life. The impact of this asset acquisition is included in “Acquisition of technology” on the condensed consolidated statements of cash flows.