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Note 15 - Goodwill

12 Months Ended

Dec. 31, 2022

Notes to Financial Statements

Goodwill Disclosure [Text Block]

15.         Goodwill

Our reporting units are either our operating segments or components of our operating segments depending on the level at which segment management oversees the business. Prior to the Merger, Legacy Expro’s reporting units included Europe and the Commonwealth of Independent States, Sub-Saharan Africa, MENA, Asia, North America and Latin America. During 2021, due to the Merger we changed our internal organization and reporting structure and as a result, our operating segments, NLA, ESSA, MENA and APAC, are also our reporting units. The allocation of goodwill by operating segment was as follows (in thousands):

		December 31,
		2022				2021
NLA		$	118,511			$	93,608
ESSA			80,058				66,283
MENA			4,218				3,331
APAC			18,193				16,681
Total		$	220,980			$	179,903

The following table provides the gross carrying amount and cumulative impairment expense of goodwill for each operating segment as of  December 31, 2022 and 2021 (in thousands):

		2022																2021
		Cost				Measurement period adjustments				Accumulated impairment				Net Book Value				Cost				Acquired in Merger				Accumulated impairment				Net Book Value
NLA		$	130,949			$	24,903			$	(37,341	)		$	118,511			$	37,341			$	93,608			$	(37,341	)		$	93,608
ESSA			80,761				13,775				(14,478	)			80,058				28,982				51,779				(14,478	)			66,283
MENA			129,714				887				(126,383	)			4,218				126,383				3,331				(126,383	)			3,331
APAC			56,794				1,512				(40,113	)			18,193				51,113				5,681				(40,113	)			16,681
Total		$	398,218			$	41,077			$	(218,315	)		$	220,980			$	243,819			$	154,399			$	(218,315	)		$	179,903

During the third quarter of 2022, goodwill associated with the Merger increased by $41.1 million as a result of measurement period adjustments to our preliminary estimates due to additional information received. Please see Note 3 “Business combinations and dispositions” for additional information.

No goodwill impairment expense was recognized during the years ended December 31, 2022 and 2021. We recorded goodwill impairment expense of $191.9 million for the year ended December 31, 2020. Refer to Note 4 “Fair value measurements” for further details.

The following table summarizes our goodwill impairment expense by operating segment for the year ended December 31, 2020 (in thousands):

		Year Ended December 31,
		2020
NLA		$	25,397
ESSA			-
MENA			126,383
APAC			40,113
Total		$	191,893

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The entire disclosure for goodwill.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-Name Accounting Standards Codification
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