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Goodwill and Intangible Assets | 3 Months Ended
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Mar. 31, 2023
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 March 31, 2023
​ | ​ | Average | ​ | Gross | ​ | ​ | ​ | ​
​ | ​ | Amortization | ​ | Carrying | ​ | Accumulated | ​ | Net
(In thousands) |  | Period | ​ | Amount | ​ | Amortization | ​ | Amount
Definite-lived intangible assets: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Patents | ​ | 12 years | ​ | $ | 903 | ​ | $ | 192 | ​ | $ | 711
Defensive intangible assets | ​ | 2 years | ​ | ​ | 1,125 | ​ | ​ | 807 | ​ | ​ | 318
Customer accounts | ​ | < 1 year | ​ | ​ | 125 | ​ | ​ | 121 | ​ | ​ | 4
Customer relationships | ​ | 11 years | ​ | ​ | 31,000 | ​ | ​ | 3,722 | ​ | ​ | 27,278
Developed technology | ​ | 9 years | ​ | ​ | 13,000 | ​ | ​ | 1,845 | ​ | ​ | 11,155
Subtotal | ​ | ​ | ​ | ​ | 46,153 | ​ | ​ | 6,687 | ​ | ​ | 39,466
Unamortized intangible assets: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Tradenames | ​ | ​ | ​ | ​ | 9,500 | ​ | ​ | — | ​ | ​ | 9,500
Patents pending | ​ | ​ | ​ | ​ | 499 | ​ | ​ | — | ​ | ​ | 499
Total intangible assets | ​ | ​ | ​ | $ | 56,152 | ​ | $ | 6,687 | ​ | $ | 49,465
​ ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Weighted- | ​ | At December 31, 2022
​ | ​ | Average | ​ | Gross | ​ | ​ | ​ | ​
​ | ​ | Amortization | ​ | Carrying | ​ | Accumulated | ​ | Net
(In thousands) |  | Period | ​ | Amount | ​ | Amortization | ​ | Amount
Definite-lived intangible assets: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Patents | ​ | 12 years | ​ | $ | 897 | ​ | $ | 173 | ​ | $ | 724
Defensive intangible assets | ​ | 2 years | ​ | ​ | 1,126 | ​ | ​ | 764 | ​ | ​ | 362
Customer accounts | ​ | < 1 year | ​ |  | 125 | ​ |  | 114 | ​ |  | 11
Customer relationships | ​ | 12 years | ​ | ​ | 31,000 | ​ | ​ | 3,127 | ​ | ​ | 27,873
Developed technology | ​ | 10 years | ​ | ​ | 13,000 | ​ | ​ | 1,550 | ​ | ​ | 11,450
Subtotal | ​ | ​ | ​ | ​ | 46,148 | ​ | ​ | 5,728 | ​ | ​ | 40,420
Unamortized intangible assets: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Tradenames | ​ | ​ | ​ | ​ | 9,500 | ​ | ​ | — | ​ | ​ | 9,500
Patents pending | ​ | ​ | ​ | ​ | 455 | ​ | ​ | — | ​ | ​ | 455
Total intangible assets | ​ | ​ | ​ | $ | 56,103 | ​ | $ | 5,728 | ​ | $ | 50,375
​ Amortization expense was $1.0 million for each of the three months ended March 31, 2023 and 2022. Future amortization expenses are expected as follows: ​
​ | ​ | ​ | ​
(In thousands) | ​ | ​ | ​
2023 (April 1 - December 31) |  | $ | 2,849
2024 | ​ | ​ | 3,787
2025 | ​ |  | 3,698
2026 | ​ |  | 3,633
2027 | ​ |  | 3,623
Thereafter | ​ |  | 21,876
Total | ​ | $ | 39,466
​ 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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