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Goodwill and Intangible Assets | 9 Months Ended
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Sep. 30, 2022
Goodwill and Intangible Assets. |
Goodwill and Intangible Assets | Note 6. Goodwill and Intangible Assets Goodwill In the third quarter of fiscal 2021, we completed the AffloVest Acquisition. The purchase price of the AffloVest product line exceeded the net acquisition-date estimated fair value amounts of the identifiable assets acquired and the liabilities assumed by $31.1 million, which was assigned to goodwill. Intangible Assets Our patents and other intangible assets are summarized as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Weighted- | ​ | At September 30, 2022
​ | ​ | Average | ​ | Gross | ​ | ​ | ​ | ​
​ | ​ | Amortization | ​ | Carrying | ​ | Accumulated | ​ | Net
(In thousands) |  | Period | ​ | Amount | ​ | Amortization | ​ | Amount
Definite-lived intangible assets: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Patents | ​ | 12 years | ​ | $ | 829 | ​ | $ | 157 | ​ | $ | 672
Defensive intangible assets | ​ | 3 years | ​ | ​ | 1,125 | ​ | ​ | 721 | ​ | ​ | 404
Customer accounts | ​ | 1 year | ​ | ​ | 125 | ​ | ​ | 108 | ​ | ​ | 17
Customer relationships | ​ | 12 years | ​ | ​ | 31,000 | ​ | ​ | 2,530 | ​ | ​ | 28,470
Developed technology | ​ | 10 years | ​ | ​ | 13,000 | ​ | ​ | 1,254 | ​ | ​ | 11,746
Subtotal | ​ | ​ | ​ | ​ | 46,079 | ​ | ​ | 4,770 | ​ | ​ | 41,309
Unamortized intangible assets: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Tradenames | ​ | ​ | ​ | ​ | 9,500 | ​ | ​ | — | ​ | ​ | 9,500
Patents pending | ​ | ​ | ​ | ​ | 499 | ​ | ​ | — | ​ | ​ | 499
Total intangible assets | ​ | ​ | ​ | $ | 56,078 | ​ | $ | 4,770 | ​ | $ | 51,308
​ ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Weighted- | ​ | ​ | At December 31, 2021
​ | ​ | Average | ​ | ​ | Gross | ​ | ​ | ​ | ​
​ | ​ | Amortization | ​ | ​ | Carrying | ​ | Accumulated | ​ | Net
(In thousands) |  | Period | ​ | ​ | Amount | ​ | Amortization | ​ | Amount
Definite-lived intangible assets: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Patents | ​ | 12 years | ​ | ​ | $ | 666 | ​ | $ | 109 | ​ | $ | 557
Defensive intangible assets | ​ | 3 years | ​ | ​ | ​ | 1,125 | ​ | ​ | 592 | ​ | ​ | 533
Customer accounts | ​ | 1 year | ​ | ​ |  | 125 | ​ |  | 89 | ​ |  | 36
Customer relationships | ​ | 13 years | ​ | ​ | ​ | 31,000 | ​ | ​ | 742 | ​ | ​ | 30,258
Developed technology | ​ | 11 years | ​ | ​ | ​ | 13,000 | ​ | ​ | 368 | ​ | ​ | 12,632
Subtotal | ​ | ​ | ​ | ​ | ​ | 45,916 | ​ | ​ | 1,900 | ​ | ​ | 44,016
Unamortized intangible assets: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Tradenames | ​ | ​ | ​ | ​ | ​ | 9,500 | ​ | ​ | — | ​ | ​ | 9,500
Patents pending | ​ | ​ | ​ | ​ | ​ | 565 | ​ | ​ | — | ​ | ​ | 565
Total intangible assets | ​ | ​ | ​ | ​ | $ | 55,981 | ​ | $ | 1,900 | ​ | $ | 54,081
​ Amortization expense was $1.0 million and $0.3 million for the three months ended September 30, 2022 and 2021, respectively, and $2.9 million and $0.4 million for the nine months ended September 30, 2022 and 2021, respectively. Future amortization expenses are expected as follows: ​
​ | ​ | ​ | ​
(In thousands) | ​ | ​ | ​
2022 (October 1 - December 31) |  | $ | 958
2023 | ​ | ​ | 3,801
2024 | ​ |  | 3,780
2025 | ​ |  | 3,690
2026 | ​ |  | 3,626
Thereafter | ​ |  | 25,454
Total | ​ | $ | 41,309
​ In the third quarter of 2022, we performed our annual goodwill impairment test utilizing both the qualitative and quantitative approach described in FASB ASU No. 2021-03, “Intangibles—Goodwill and Other (Topic 350) – Accounting Alternative for Evaluating Triggering Events. Based on the testing using the qualitative approach, it was determined that it was not more likely than not that the fair value of the reporting unit was less than the carrying value. As a result, it was not deemed necessary to proceed to the quantitative test and no impairment was recognized.

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