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Goodwill and Other Intangible Assets
6 Months Ended
Jun. 30, 2020
Goodwill and Other Intangible Assets [Abstract]  
Goodwill and Other Intangible Assets

Note 10—Goodwill and Other Intangible Assets


The table below reconciles the change in the carrying amount of goodwill for the period from January 1, 2020 to June 30, 2020:

 


 

  GRE

GRE International




GES

Total

 



(in thousands)

Balance at January 1, 2020               

 

9,998

$

1,733



$ 404

$

12,135

 

Cumulative translation adjustment




2




2

Balance at June 30, 2020              

 

$

9,998

$

1,735



$ 404

$

12,137

 


The table below presents information on the Company’s other intangible assets: 



 

Weighted Average Amortization Period

 

 

Gross Carrying Amount

 

 

Accumulated Amortization

 

 

Net
Balance

 



(in thousands)

June 30, 2020

 

 

 

 

 

 

 

 

 

 

 

 

Patents and trademarks              

 

 

17.1 years

 

 

$

3,842

 

 

$

695

 

$

3,147

 

Non-compete agreements              

 

 

3.0 years

 

 

 

34

 

 

 

17

 

 

17

 

Customer relationships             

 

 

4.6 years

 

 

 

3,009

 

 

 

1,777

 

 

1,232

 

Licenses              

 

10.0 years

 

 

 

1,224

 

 

 

180

 

 

1,044

 

Total

 

 

 

 

$

8,109

 

 

$

2,669

 

$

5,440

 

December 31, 2019

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Trademark             

 

 

17.1 years

 

 

$

3,842

 

 

$

560

 

$

3,282

 

Non-compete agreement             

 

 

1.6 years

 

 

 

148

 

 

 

126

 

 

22

 

Customer relationships             

 

 

3.9 years

 

 

 

6,706

 

 

 

3,941

 

 

2,765

 

Licenses              

 

 

10.0 years

  

 

 

895

 

 

 

127

 

 

 

768

 

Total      

 

 

 

 

$

11,591

 

 

$

4,754

 

$

6,837

 

 

In the second quarter of 2020, Prism renegotiated a contract with its main customer which resulted in impairment of customer relationship of $0.8 million included in the consolidated statements of operations.


Amortization expense of intangible assets (including minimal amounts reported in cost of revenues) was $0.4 million and $0.9 million in the three and six months ended June 30, 2020, respectively. Amortization expense of intangible assets (including minimal amounts reported in cost of revenues) was $0.5 million and $1.0 million in the three and six months ended June 30, 2019, respectively. The Company estimates that amortization expense of intangible assets will be $0.7 million, $0.5 million, $0.5 million, $0.5 million, $0.5 million and $2.7 million for the remainder of 2020, and for 2021, 2022, 2023, 2024 and thereafter, respectively.