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Note 6 - Goodwill and Intangible Assets | 12 Months Ended
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Dec. 31, 2022
Notes to Financial Statements |
Goodwill and Intangible Assets Disclosure [Text Block] |
6. | GOODWILL AND INTANGIBLE ASSETS:
Goodwill The Company has recorded goodwill in connection with its business acquisitions within the Precast reportable segment. The changes in the carrying amount of goodwill for the year ended December 31, 2022 were as follows (in thousands):
Goodwill, December 31, 2021 |  | $ | 53,684 |
Measurement period adjustment (Note 3) |  |  | 1,820 |
Goodwill, December 31, 2022 |  | $ | 55,504 |
The Company performed its annual goodwill impairment test as of November 30, 2022, utilizing a qualitative analysis, and did not identify any potential impairment. Intangible Assets Intangible assets consist of the following (in thousands):
|  | Gross Carrying Amount |  |  | Accumulated Amortization |  |  | Intangible Assets, Net |
As of December 31, 2022 |  |  |  |  |  |  |  |  |  |  |  |
Customer relationships |  | $ | 29,209 |  |  | $ | (5,845 | ) |  | $ | 23,364 |
Trade names and trademarks |  |  | 12,825 |  |  |  | (2,490 | ) |  |  | 10,335 |
Patents |  |  | 1,627 |  |  |  | (81 | ) |  |  | 1,546 |
Other |  |  | 329 |  |  |  | (310 | ) |  |  | 19 |
Total |  | $ | 43,990 |  |  | $ | (8,726 | ) |  | $ | 35,264 |
As of December 31, 2021 |  |  |  |  |  |  |  |  |  |  |  |
Customer relationships |  | $ | 29,209 |  |  | $ | (2,997 | ) |  | $ | 26,212 |
Trade names and trademarks |  |  | 12,825 |  |  |  | (1,245 | ) |  |  | 11,580 |
Patents |  |  | 1,300 |  |  |  | (15 | ) |  |  | 1,285 |
Backlog |  |  | 300 |  |  |  | (129 | ) |  |  | 171 |
Other |  |  | 329 |  |  |  | (201 | ) |  |  | 128 |
Total |  | $ | 43,963 |  |  | $ | (4,587 | ) |  | $ | 39,376 |
The estimated amortization expense for each of the next five years and thereafter is as follows (in thousands):
Year ending December 31, |  |  |  |
2023 |  | $ | 4,189 |
2024 |  |  | 4,033 |
2025 |  |  | 4,033 |
2026 |  |  | 4,033 |
2027 |  |  | 4,033 |
Thereafter |  |  | 14,943 |
Total amortization expense |  | $ | 35,264 |

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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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