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Note 6 - Goodwill and Intangible Assets | 3 Months Ended
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Mar. 31, 2022
Notes to Financial Statements |
Goodwill and Intangible Assets Disclosure [Text Block] | 6. Goodwill and intangible assets Goodwill Goodwill represents the difference between the purchase price and the estimated fair value of identifiable assets acquired and liabilities assumed. Goodwill acquired in a business combination is determined to have an indefinite useful life and is not amortized, but instead is tested for impairment at least annually in accordance with ASC 350. The Company has not identified any triggering events which indicate an impairment of goodwill in the three months ended March 31, 2022. Intangible assets Intangible assets, net consisted of the following as of March 31, 2022 and December 31, 2021:
(In thousands, except weighted average useful life) |  | March 31, 2022 |  |  |  |  |
Intangible assets: |  | Gross Carrying Value |  |  | Accumulated Amortization |  |  | Net Carrying Value |  |  | Weighted Average Useful Life (in years) |
Customer Relationships |  | $ | 17,516 |  |  | $ | (2,376 | ) |  | $ | 15,140 |  |  |  | 10.1 |
Tradenames |  |  | 35,574 |  |  |  | (2,939 | ) |  |  | 32,635 |  |  |  | 13.6 |
Technology - acquired |  |  | 41,942 |  |  |  | (9,278 | ) |  |  | 32,664 |  |  |  | 5.6 |
Non-compete agreements |  |  | 1,990 |  |  |  | (583 | ) |  |  | 1,407 |  |  |  | 2.8 |
In-process research and development⁽¹⁾ |  |  | 67,440 |  |  |  | - |  |  |  | 67,440 |  |  |  | N/A |
Total intangible assets |  | $ | 164,462 |  |  | $ | (15,176 | ) |  | $ | 149,286 |  |  |  | 9.6 |
(In thousands, except weighted average useful life) |  | December 31, 2021 |  |  |  |  |
Intangible assets: |  | Gross Carrying Value |  |  | Accumulated Amortization |  |  | Net Carrying Value |  |  | Weighted Average Useful Life (in years) |
Customer Relationships |  | $ | 17,516 |  |  | $ | (1,776 | ) |  | $ | 15,740 |  |  |  | 10.3 |
Tradenames |  |  | 35,574 |  |  |  | (2,306 | ) |  |  | 33,268 |  |  |  | 13.8 |
Technology - acquired |  |  | 41,942 |  |  |  | (7,789 | ) |  |  | 34,153 |  |  |  | 5.9 |
Non-compete agreements |  |  | 1,990 |  |  |  | (442 | ) |  |  | 1,548 |  |  |  | 3.0 |
In-process research and development⁽¹⁾ |  |  | 67,440 |  |  |  | - |  |  |  | 67,440 |  |  |  | N/A |
Total intangible assets |  | $ | 164,462 |  |  | $ | (12,313 | ) |  | $ | 152,149 |  |  |  | 9.8 |
(1) In-process R&D represents the fair value of incomplete research and development. We will amortize the asset upon completion of development. Amortization expense for definite-lived intangible assets was $2.9 million and $933,000 for the three months ended March 31, 2022 and 2021, respectively. As of March 31, 2022, the Company expects to record the following amortization expense for definite-lived intangible assets:
(In thousands) |  | Amortization |
For the Years Ending December 31, |  | Expense |
2022 (9 months remaining) |  | $ | 8,558 |
2023 |  |  | 10,951 |
2024 |  |  | 10,126 |
2025 |  |  | 9,748 |
2026 |  |  | 9,346 |
Thereafter |  |  | 33,117 |
Total |  | $ | 81,846 |

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -URI https://asc.fasb.org/topic&trid=2144416 + Details
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