v3.20.1
Goodwill and Intangible Assets
12 Months Ended
Dec. 31, 2019
Goodwill And Intangible Assets Disclosure [Abstract]  
Goodwill and Intangible Assets

NOTE 6—GOODWILL AND INTANGIBLE ASSETS

Goodwill

The changes in the carrying amount of goodwill related to our various reporting units for the years ended December 31, 2019 and 2018 were as follows (in thousands):

 

 

 

 

 

 

 

 

 

 

 

Discontinued Operations

 

 

 

 

 

 

 

OneClick

USA

 

 

Simply Mac

 

 

Verykool Products

 

 

OneClick

Argentina

 

 

OneClick

Dominican

Republic

 

 

Total

 

Balance at December 31, 2017

 

$

1,425

 

 

$

 

 

$

 

 

$

4,511

 

 

$

 

 

$

5,936

 

2018 acquisitions

 

 

 

 

 

 

 

 

3,343

 

 

 

 

 

 

4,399

 

 

 

7,742

 

Impairment charge

 

 

(1,425

)

 

 

 

 

 

(3,343

)

 

 

(4,511

)

 

 

(4,399

)

 

 

(13,678

)

Balance at December 31, 2018

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2019 acquisitions

 

 

 

 

 

699

 

 

 

 

 

 

 

 

 

 

 

 

699

 

Balance at December 31, 2019

 

$

 

 

$

699

 

 

$

 

 

$

 

 

$

 

 

$

699

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

The Company performs an impairment test of goodwill on an annual basis during the fourth quarter, or when circumstances indicate that the carrying value of goodwill might be impaired. As a result of our annual impairment test in the fourth quarter of fiscal 2018, the Company recognized goodwill impairment charges totaling $13,678,000, of which $12,253,000 was related to reporting units classified as a discontinued operations.

Definite-lived Intangible Assets

The changes in the carrying amounts of definite-lived intangible assets related to our various reporting units for the years ended December 31, 2019 and 2018 were as follows (in thousands):

 

 

 

 

 

 

 

Discontinued Operations

 

 

 

 

 

 

 

Simply Mac

 

 

OneClick International

 

 

OneClick

Dominican

Republic

 

 

Total

 

Balance at December 31, 2017

 

$

 

 

$

1,135

 

 

$

 

 

$

1,135

 

2018 acquisition

 

 

 

 

 

 

 

 

76

 

 

 

76

 

Amortization

 

 

 

 

 

(252

)

 

 

(14

)

 

 

(266

)

Impairment charge

 

 

 

 

 

 

 

 

(62

)

 

 

(62

)

Balance at December 31, 2018

 

 

 

 

 

883

 

 

 

 

 

 

883

 

2019 acquisition

 

 

2,092

 

 

 

 

 

 

 

 

 

2,092

 

Amortization

 

 

(37

)

 

 

(253

)

 

 

 

 

 

(290

)

Impairment charge

 

 

 

 

 

(630

)

 

 

 

 

 

(630

)

Balance at December 31, 2019

 

$

2,055

 

 

$

 

 

$

 

 

$

2,055

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

During 2018, the Company evaluated the intangibles in connection with its annual goodwill impairment analysis and recognized an impairment charge of $62,000 related to the write-off of the tradename and covenant not-to-compete from the Unitron acquisition.  During 2019, the Company recognized an impairment charge of $630,000 related to the write-off of the OneClick tradename and covenant not-to-compete.

The Company’s definite-lived intangible asset at December 31, 2019 is comprised of the Simply Mac trade name arising from the September 25, 2019 acquisition of Simply Mac. The Simply Mac trade name is being amortized over 15 years.  Amortization expense for the year ended December 31, 2019 was $37,000.  The carrying value of intangible assets at December 31, 2019 consisted of the following (in thousands):

 

 

 

 

 

 

Simply Mac Tradename

 

$

2,092

 

Less accumulated amortization

 

 

(37

)

Total

 

$

2,055