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Acquisition of Marlin Assets (Tables)

12 Months Ended

Dec. 31, 2021

Business Combinations [Abstract]

Schedule of Allocation of Purchase Price Consideration

The following table summarizes the Company's allocation of the purchase price:

		Initial Purchase Price Allocation				Measurement Period Adjustments				Final Purchase Price Allocation
Purchase Price
Cash paid to sellers		$	28,316			$	—			$	28,316
Purchase Price Allocation
Assets Acquired
Inventory		$	11,400			$	(2,414	)		$	8,986
Machinery and equipment			5,000				(25	)			4,975
Tradename and trademarks			7,800								7,800
Patents			2,500								2,500
Customer Relationships			1,000								1,000
Goodwill			616				2,439				3,055
Net Assets Acquired		$	28,316			$	—			$	28,316

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Table of Contents

Identifiable assets acquired were recorded at their estimated fair values based on the methodology described under “Fair Value Measurements” in Note 1 - Significant Accounting Policies.

Schedule of Estimated Remaining Useful Lives

Intangible assets acquired in the Marlin Acquisition are reflected in Other Assets on the Company’s Consolidated Balance Sheet at December 31, 2021. Intangible assets are amortized over their estimated remaining useful lives using a straight-line methodology.

		Remaining Economic Useful Life
Tradename and trademarks		20 years
Patents		20 years
Customer Relationships		15 years

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- References

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- Definition

Tabular disclosure of finite-lived intangible assets acquired as part of a business combination or through an asset purchase, by major class and in total, including the value of the asset acquired, any significant residual value (the expected value of the asset at the end of its useful life) and the weighted-average amortization period.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 30
-Section 50
-Paragraph 1
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=66006027&loc=d3e16265-109275

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- Definition

Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 20
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=123413009&loc=d3e4845-128472

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