Goodwill and Other Intangible Assets

3 Months Ended

Mar. 31, 2022

Goodwill And Intangible Assets Disclosure [Abstract]

Note 6. Goodwill and Other Intangible Assets

Acquired Intangible Assets

Acquired identifiable intangible assets, and related accumulated amortization, as of March 31, 2022 and December 31, 2021 consist of:

	March 31, 2022
	Gross Carrying Value			Accumulated Amortization			Net Book Value
	(in thousands)
Customer relationships	$	8,355		$	6,491		$	1,864
Tradenames		3,066			807			2,259
Developed technology		1,884			507			1,377
Foreign currency		(1,025	)		(989	)		(36	)
Total Intangible Assets	$	12,280		$	6,816		$	5,464

	December 31, 2021
	Gross Carrying Value			Accumulated Amortization			Net Book Value
	(in thousands)
Customer relationships	$	8,355		$	6,315		$	2,040
Tradenames		3,066			730			2,336
Developed technology		1,884			440			1,444
Foreign currency		(896	)		(865	)		(32	)
Total Intangible Assets	$	12,409		$	6,620		$	5,788

In connection with the October 2012 acquisition of TB Europe, the acquired intangible assets related to customer relationships is being amortized over an estimated useful life of thirteen years with the amortization being included within sales and marketing expense.

In May 2019, the Company completed its acquisition of the business and assets of the ROCCAT business, and in January 2021, the Company completed its acquisition of the business and assets of the Neat Microphones business. The respective acquired intangible assets relating to developed technology, customer relationships and trade names are subject to amortization.

Amortization expense related to definite lived intangible assets was $0.3 million for each of the three months ended March 31, 2022 and March 31, 2021.

As of March 31, 2022, estimated annual amortization expense related to definite lived intangible assets in future periods is as follows:

	(in thousands)
2022	$	961
2023		1,041
2024		1,008
2025		889
2026		637
Thereafter		964
Total	$	5,500

There were no changes in the carrying values of goodwill for the three months ended March 31, 2022 from the balance as of December 31, 2021.