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Note 8 - Intangible Assets | 9 Months Ended
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Sep. 30, 2023
Notes to Financial Statements |
Intangible Assets Disclosure [Text Block] | NOTE 8 INTANGIBLE ASSETS Intangible assets at September 30, 2023 and December 31, 2022 are comprised as follows:
(in thousands) |  | September 30, 2023 |
|  | Gross Carrying Value |  |  | Accumulated Amortization |  |  | Net Carrying Value |
Intangible assets subject to amortization: |  |  |  |  |  |  |  |  |  |  |  |
Database |  | $ | 4,918 |  |  | $ | 4,918 |  |  | $ | — |
Vehicle service agreements in-force |  |  | 3,680 |  |  |  | 3,680 |  |  |  | — |
Customer relationships |  |  | 33,642 |  |  |  | 17,875 |  |  |  | 15,767 |
Developed technology |  |  | 600 |  |  |  | 7 |  |  |  | 593 |
Intangible assets not subject to amortization: |  |  |  |  |  |  |  |  |  |  |  |
Trade names |  |  | 14,457 |  |  |  | — |  |  |  | 14,457 |
Total |  | $ | 57,297 |  |  | $ | 26,480 |  |  | $ | 30,817 |
(in thousands) |  | December 31, 2022 |
|  | Gross Carrying Value |  |  | Accumulated Amortization |  |  | Net Carrying Value |
Intangible assets subject to amortization: |  |  |  |  |  |  |  |  |  |  |  |
Database |  | $ | 4,918 |  |  | $ | 4,918 |  |  | $ | — |
Vehicle service agreements in-force |  |  | 3,680 |  |  |  | 3,680 |  |  |  | — |
Customer relationships |  |  | 32,442 |  |  |  | 13,630 |  |  |  | 18,812 |
Intangible assets not subject to amortization: |  |  |  |  |  |  |  |  |  |  |  |
Trade names |  |  | 14,287 |  |  |  | — |  |  |  | 14,287 |
Total |  | $ | 55,327 |  |  | $ | 22,228 |  |  | $ | 33,099 |
As further discussed in Note 5, "Acquisitions, Disposal and Discontinued Operations," during the third quarter of 2023, the Company recorded $2.0 million of separately identifiable intangible assets, related to acquired customer relationships, developed technology and trade name, as part of the acquisition of SPI on September 7, 2023. The customer relationships intangible asset of $1.2 million and the developed technology intangible asset of $0.6 million are being amortized over twelve and ten years, respectively, based on the pattern in which the economic benefits of the intangible asset are expected to be consumed. The trade name intangible asset of $0.2 million is deemed to have indefinite useful life and is not amortized. The intangible assets related to this acquisition are provisional and subject to adjustment during the measurement period. The Company expects to complete its purchase price during the fourth quarter of 2023. The estimates, allocations and calculations recorded at September 30, 2023 are subject to change as we obtain further information; therefore, the final fair values of the assets acquired and liabilities assumed may not agree with the estimates included in these consolidated financial statements. The Company's other intangible assets with definite useful lives are amortized either based on the patterns in which the economic benefits of the intangible assets are expected to be consumed or using the straight-line method over their estimated useful lives, which range from 7 to 15 years. Amortization of intangible assets was $1.4 million for each of the three months ended September 30, 2023 and September 30, 2022 ($4.3 million and $4.2 million for the nine months ended September 30, 2023 and September 30, 2022, respectively). The trade names intangible assets have indefinite useful lives and are not amortized. No impairment charges were recorded during the three and nine months ended September 30, 2023 and September 30, 2022. Indefinite-lived intangible assets consist of trade names, which are assessed for impairment annually as of November 30, or more frequently if events or circumstances indicate that the carrying value may not be recoverable. The Company may perform its impairment test for any indefinite-lived intangible asset through a qualitative assessment or elect to proceed directly to a quantitative impairment test, however, the Company may resume a qualitative assessment in any subsequent period if facts and circumstances permit. As of November 30, 2022, the Company conducted its annual qualitative assessment. As a result, the Company determined that certain trade names should be further examined under a quantitative approach. Based on the results of the quantitative approach, the estimated fair values of the trade names exceeded their respective carrying values; therefore, the Company did not record any impairment. However, the Company notes that certain of its indefinite-lived intangible assets are sensitive to changes in interest rates and a continued increase in rates could cause certain assets to become impaired.

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