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Note 8 - Goodwill & Identified Intangible Assets

3 Months Ended

Mar. 31, 2024

Goodwill and Intangible Assets Disclosure [Text Block]

8. GOODWILL & IDENTIFIED INTANGIBLE ASSETS

There was no change in goodwill during the three months ended March 31, 2024.

Intangible assets other than goodwill at the respective balance sheet dates consisted of the following:

	March 31, 2024
	Gross		Accumulated			Carrying
($ in thousands)	Amount		Amortization			Amount
Indefinite-lived intangible assets
Trademarks	$	78,654				$	78,654
Intangible assets subject to amortization
Patents		895	$	(851	)		44
Customer relationships		41,659		(8,438	)		33,221
Total Intangible assets other than goodwill	$	121,208	$	(9,289	)	$	111,919

	December 31, 2023
	Gross		Accumulated			Carrying
($ in thousands)	Amount		Amortization			Amount
Indefinite-lived intangible assets
Trademarks	$	78,654				$	78,654
Intangible assets subject to amortization
Patents		895	$	(845	)		50
Customer relationships		41,659		(7,745	)		33,914
Total Intangible assets other than goodwill	$	121,208	$	(8,590	)	$	112,618

	March 31, 2023
	Gross		Accumulated			Carrying
($ in thousands)	Amount		Amortization			Amount
Indefinite-lived intangible assets
Trademarks ⁽¹⁾	$	78,659				$	78,659
Intangible assets subject to amortization
Patents		895	$	(831	)		64
Customer relationships ⁽²⁾		41,659		(5,666	)		35,993
Total Intangible assets other than goodwill	$	121,213	$	(6,497	)	$	114,716

⁽¹⁾Servus trademarks were reduced from approximately $2.5 million to zero at March 30, 2023 as a result of the sale of the Servus brand (see Note 4).

⁽²⁾ Customer relationships relating to the Servus brand of approximately $4.3 million and related amortization of approximately $0.6 million was reduced to zero at March 30, 2023 as a result of the sale of the Servus brand (see Note 4).

The weighted average life of patents and customer relationships is 3.6 years and 12.0 years, respectively.

Amortization expense for intangible assets subject to amortization for the three months ended March 31, 2024 and 2023 was $0.7 million and $0.8 million, respectively.

As of March 31, 2024, a schedule of approximate expected remaining amortization expense related to intangible assets for the years ending December 31 is as follows:

	Amortization
($ in thousands)	Expense
2024	$	2,095
2025		2,790
2026		2,788
2027		2,785
2028		2,781
2029		2,779
2030+		17,247