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GOODWILL AND INTANGIBLES, NET

9 Months Ended

Sep. 30, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

GOODWILL AND INTANGIBLES, NET

NOTE 2 – GOODWILL AND INTANGIBLES, NET

The annual review of goodwill impairment will be performed in October 2022. There were no triggering events during the three and nine months ended September 30, 2022 and 2021.

The Company had goodwill of $81.7 million at September 30, 2022 and December 31, 2021.

Intangible assets consisted of the following at September 30, 2022 and December 31, 2021 (in 000’s):

			September 30, 2022						December 31, 2021						Useful Life
Technology and know-how			$	53,600					$	53,600					15 years
Trademarks and tradenames			17,700						17,700						15 years
			71,300						71,300
Accumulated amortization of technology and know-how			(14,293)						(11,613)
Accumulated amortization of tradenames and trademarks			(4,720)						(3,835)
Total intangible assets			$	52,287					$	55,852

Aggregate amortization expense on intangible assets was approximately $1.2 million for both of the three months ended September 30, 2022 and 2021, and $3.6 million for both of the nine months ended September 30, 2022 and 2021.

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- References

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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 http://asc.fasb.org/topic&trid=2144416

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