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Note 14 - Intangible Assets, Net | 9 Months Ended
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Sep. 30, 2022
Notes to Financial Statements |
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 September 30, 2022 and December 31, 2021 (in thousands):
|  | September 30, 2022 |  |  | December 31, 2021 |  |  | September 30, 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 |  |  | $ | (113,234 | ) |  | $ | 108,966 |  |  | $ | 222,200 |  |  | $ | (98,271 | ) |  | $ | 123,929 |  |  |  | 5.6 |
Trademarks |  |  | 57,100 |  |  |  | (32,040 | ) |  |  | 25,060 |  |  |  | 57,100 |  |  |  | (29,392 | ) |  |  | 27,708 |  |  |  | 7.7 |
Technology |  |  | 170,652 |  |  |  | (68,567 | ) |  |  | 102,085 |  |  |  | 159,458 |  |  |  | (60,979 | ) |  |  | 98,479 |  |  |  | 11.8 |
Software |  |  | 8,754 |  |  |  | (8,502 | ) |  |  | 252 |  |  |  | 8,754 |  |  |  | (5,817 | ) |  |  | 2,937 |  |  |  | 0.1 |
Total |  | $ | 458,706 |  |  | $ | (222,343 | ) |  | $ | 236,363 |  |  | $ | 447,512 |  |  | $ | (194,459 | ) |  | $ | 253,053 |  |  |  |  |
Amortization expense for intangible assets was $8.9 million and $27.4 million for the three and nine months ended September 30, 2022, respectively, and $6.5 million and $19.4 million for the three and nine months ended September 30, 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.

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- Definition The entire disclosure for all or part of the information related to intangible assets. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -URI https://asc.fasb.org/subtopic&trid=2144471 + Details
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