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Note 10 - Identified Intangible Assets | 9 Months Ended
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Sep. 30, 2022
Notes to Financial Statements |
Intangible Assets Disclosure [Text Block] | 10. IDENTIFIED INTANGIBLE ASSETS A schedule of identified intangible assets is as follows:
|  | Gross |  |  | Accumulated |  |  | Carrying |
($ in thousands) |  | Amount |  |  | Amortization |  |  | Amount |
September 30, 2022 |  |  |  |  |  |  |  |  |  |  |  |
Trademarks |  |  |  |  |  |  |  |  |  |  |  |
Wholesale (1) |  | $ | 71,981 |  |  |  | - |  |  | $ | 71,981 |
Retail (2) |  |  | 9,220 |  |  |  | - |  |  |  | 9,220 |
Patents |  |  | 895 |  |  | $ | 821 |  |  |  | 74 |
Customer relationships (3) |  |  | 46,006 |  |  |  | 4,729 |  |  |  | 41,277 |
Total Intangibles |  | $ | 128,102 |  |  | $ | 5,550 |  |  | $ | 122,552 |
(1) $45.4 million of the total resulted from our Acquisition that occurred on March 15, 2021. NEOS trademarks were reduced from approximately $0.6 million to zero at September 30, 2022 as a result of the sale of the NEOS brand (see Note 5). (2) $6.3 million of the total resulted from our Acquisition that occurred on March 15, 2021. (3) Resulted from our Acquisition that occurred on March 15, 2021. Customer relationships relating to the NEOS brand of approximately $0.9 million and related amortization of approximately $0.1 million was reduced to zero at September 30, 2022 as a result of the sale of the NEOS brand (see Note 5).
|  | Gross |  |  | Accumulated |  |  | Carrying |
($ in thousands) |  | Amount |  |  | Amortization |  |  | Amount |
December 31, 2021 |  |  |  |  |  |  |  |  |  |  |  |
Trademarks |  |  |  |  |  |  |  |  |  |  |  |
Wholesale (1) |  | $ | 72,579 |  |  |  | - |  |  | $ | 72,579 |
Retail (2) |  |  | 9,220 |  |  |  | - |  |  |  | 9,220 |
Patents |  |  | 895 |  |  | $ | 804 |  |  |  | 91 |
Customer relationships (3) |  |  | 46,900 |  |  |  | 2,475 |  |  |  | 44,425 |
Total Intangibles |  | $ | 129,594 |  |  | $ | 3,279 |  |  | $ | 126,315 |
(1) $45.4 million of the total resulted from our Acquisition that occurred on March 15, 2021. (2) $6.3 million of the total resulted from our Acquisition that occurred on March 15, 2021. (3) Resulted from our Acquisition that occurred on March 15, 2021.
|  | Gross |  |  | Accumulated |  |  | Carrying |
($ in thousands) |  | Amount |  |  | Amortization |  |  | Amount |
September 30, 2021 |  |  |  |  |  |  |  |  |  |  |  |
Trademarks |  |  |  |  |  |  |  |  |  |  |  |
Wholesale (1) |  | $ | 72,592 |  |  |  | - |  |  | $ | 72,592 |
Retail (2) |  |  | 9,220 |  |  |  | - |  |  |  | 9,220 |
Patents |  |  | 895 |  |  | $ | 797 |  |  |  | 98 |
Customer relationships (3) |  |  | 46,900 |  |  |  | 1,694 |  |  |  | 45,206 |
Total Intangibles |  | $ | 129,607 |  |  | $ | 2,491 |  |  | $ | 127,116 |
(1) $45.4 million of the total resulted from our Acquisition that occurred on March 15, 2021. (2) $6.3 million of the total resulted from our Acquisition that occurred on March 15, 2021. (3) Resulted from our Acquisition that occurred on March 15, 2021. The weighted average life for our patents is 7.2 years. A schedule of approximate amortization expense related to finite-lived intangible assets for the three and nine months ended September 30, 2022 and 2021 is as follows:
|  | Three Months Ended |  |  | Nine Months Ended |
|  | September 30, |  |  | September 30, |
($ in thousands) |  | 2022 |  |  | 2021 |  |  | 2022 |  |  | 2021 |
Amortization expense |  | $ | 788 |  |  | $ | 788 |  |  | $ | 2,362 |  |  | $ | 1,713 |
A schedule of approximate expected remaining amortization expense related to finite-lived intangible assets for the years ending December 31, is as follows:
|  | Amortization |
($ in thousands) |  | Expense |
2022 |  | $ | 770 |
2023 |  |  | 3,011 |
2024 |  |  | 3,074 |
2025 |  |  | 3,070 |
2026 |  |  | 3,067 |
2027 |  |  | 3,064 |
2028+ |  |  | 25,295 |

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- Definition The entire disclosure for all or part of the information related to intangible assets. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -URI https://asc.fasb.org/subtopic&trid=2144471 + Details
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