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Note 7 - Goodwill and Intangible Assets | 12 Months Ended
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Dec. 31, 2018
Notes to Financial Statements |
Goodwill and Intangible Assets Disclosure [Text Block] | 7. Goodwill and Intangible Assets : The Company’s intangible assets were recorded in connection with its 2018 acquisition of Berlin Metals and its 2011 acquisition of CTI. The intangible assets were evaluated on the premise of highest and best use to a market participant, primarily utilizing the income approach valuation methodology. The useful life of the customer relationships were determined to be fifteen years, based primarily on the consistent and predictable revenue source associated with the existing customer base, the present value of which extends through the fifteen -year amortization period. The useful life of the trade names were determined to be indefinite primarily due to their history and reputation in the marketplace, the Company’s expectation that the trade names will continue to be used, and the conclusion that there are currently no other factors identified that would limit its useful life. The Company will continue to evaluate the useful life assigned to our amortizable customer relationships in future periods. Goodwill, by reportable segment, was as follows as of December 31, 2018 and 2017, respectively. The goodwill is deductible for tax purposes.
(in thousands) |  | Carbon Flat Products |  |  | Specialty Metals Flat Products |  |  | Tubular and Pipe Products |  |  | Total |
Balance as of December 31, 2017 |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |
Acquisitions |  |  | - |  |  |  | 2,358 |  |  |  | - |  |  |  | 2,358 |
Impairments |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Balance as of December 31, 2018 |  | $ | - |  |  | $ | 2,358 |  |  | $ | - |  |  | $ | 2,358 |
During 2018 and 2017, a step zero test was performed for the indefinitely lived intangible assets and no indication of impairment was present. Intangible assets, net, consisted of the following as of December 31, 2018 and 2017, respectively:
|  | As of December 31, 2018 |
(in thousands) |  | Gross Carrying Amount |  |  | Acquisitions |  |  | Accumulated Amortization |  |  | Intangible Assets, Net |
Customer relationships - subject to amortization |  | $ | 13,332 |  |  | $ | 640 |  |  | $ | (6,698 | ) |  | $ | 7,274 |
Covenant not to compete - subject to amortization |  |  | - |  |  |  | 157 |  |  |  | (42 | ) |  |  | 115 |
Trade names - not subject to amortization |  |  | 15,425 |  |  |  | 2,100 |  |  |  | - |  |  |  | 17,525 |
|  | $ | 28,757 |  |  | $ | 2,897 |  |  | $ | (6,740 | ) |  | $ | 24,914 |
|  | As of December 31, 2017 |
(in thousands) |  | Gross Carrying Amount |  |  | Acquisitions |  |  | Accumulated Amortization |  |  | Intangible Assets, Net |
Customer relationships - subject to amortization |  | $ | 13,332 |  |  | $ | - |  |  | $ | (5,777 | ) |  | $ | 7,555 |
Trade names - not subject to amortization |  |  | 15,425 |  |  |  | - |  |  |  | - |  |  |  | 15,425 |
|  | $ | 28,757 |  |  | $ | - |  |  | $ | (5,777 | ) |  | $ | 22,980 |
The Company estimates that amortization expense for its intangible assets subject to amortization will be approximately $1.0 million per year in each of the next five years.

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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 + Details
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