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Note 9 - Goodwill and Intangible Assets | 3 Months Ended
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Mar. 31, 2023
Notes to Financial Statements |
Goodwill and Intangible Assets Disclosure [Text Block] |
9. | 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. Intangible assets Intangible assets, net consisted of the following as of March 31, 2023 and December 31, 2022:
(In thousands, except weighted average useful life) |  | March 31, 2023 |  |  |  |  |
Intangible assets: |  | Gross Carrying Value |  |  | Accumulated Amortization |  |  | Net Carrying Value |  |  | Weighted Average Useful Life (in years) |
Customer Relationships |  | $ | 11,288 |  |  | $ | (4,446 | ) |  | $ | 6,842 |  |  |  | 9.1 |
Tradenames |  |  | 13,731 |  |  |  | (4,556 | ) |  |  | 9,175 |  |  |  | 12.6 |
Technology - acquired |  |  | 27,892 |  |  |  | (13,528 | ) |  |  | 14,364 |  |  |  | 4.6 |
Non-compete agreements |  |  | 1,187 |  |  |  | (939 | ) |  |  | 248 |  |  |  | 1.8 |
Total intangible assets |  | $ | 54,098 |  |  | $ | (23,469 | ) |  | $ | 30,629 |  |  |  | 8.0 |
(In thousands, except weighted average useful life) |  | December 31, 2022 |  |  |  |  |
Intangible assets: |  | Gross Carrying Value |  |  | Accumulated Amortization |  |  | Net Carrying Value |  |  | Weighted Average Useful Life (in years) |
Customer Relationships |  | $ | 11,288 |  |  | $ | (3,993 | ) |  | $ | 7,295 |  |  |  | 9.3 |
Tradenames |  |  | 13,731 |  |  |  | (4,323 | ) |  |  | 9,408 |  |  |  | 12.8 |
Technology - acquired |  |  | 27,892 |  |  |  | (12,796 | ) |  |  | 15,096 |  |  |  | 4.9 |
Non-compete agreements |  |  | 1,187 |  |  |  | (898 | ) |  |  | 289 |  |  |  | 2.0 |
Total intangible assets |  | $ | 54,098 |  |  | $ | (22,010 | ) |  | $ | 32,088 |  |  |  | 8.2 |
Amortization expense for definite-lived intangible assets was $1.5 million and $2.9 million for the three months ended March 31, 2023 and 2022, respectively. As of March 31, 2023, the Company expects to record the following amortization expense for definite-lived intangible assets:
(In thousands) |  | Amortization |
For the Years Ending December 31, |  | Expense |
2023 (9 months remaining) |  | $ | 3,972 |
2024 |  |  | 4,607 |
2025 |  |  | 4,435 |
2026 |  |  | 4,137 |
2027 |  |  | 3,383 |
Thereafter |  |  | 10,095 |
Total |  | $ | 30,629 |

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