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Note 8 - Goodwill & Identified Intangible Assets | 9 Months Ended
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Sep. 30, 2024
Notes to Financial Statements |
Goodwill and Intangible Assets Disclosure [Text Block] | 8. GOODWILL & IDENTIFIED INTANGIBLE ASSETS There was no change in goodwill during the nine months ended September 30, 2024. Intangible assets other than goodwill at the respective balance sheet dates consisted of the following:
|  | September 30, 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 |  |  | $ | (859 | ) |  |  | 36 |
Customer relationships |  |  | 41,659 |  |  |  | (9,828 | ) |  |  | 31,831 |
Total Intangible assets other than goodwill |  | $ | 121,208 |  |  | $ | (10,687 | ) |  | $ | 110,521 |
|  | 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 |
|  | September 30, 2023 |
|  | Gross |  |  | Accumulated |  |  | Carrying |
($ in thousands) |  | Amount |  |  | Amortization |  |  | Amount |
Indefinite-lived intangible assets |  |  |  |  |  |  |  |  |  |  |  |
Trademarks |  | $ | 78,659 |  |  |  |  |  |  | $ | 78,659 |
Intangible assets subject to amortization |  |  |  |  |  |  |  |  |  |  |  |
Patents |  |  | 895 |  |  | $ | (841 | ) |  |  | 54 |
Customer relationships |  |  | 41,659 |  |  |  | (7,051 | ) |  |  | 34,608 |
Total Intangible assets other than goodwill |  | $ | 121,213 |  |  | $ | (7,892 | ) |  | $ | 113,321 |
The weighted average life of patents and customer relationships is 2.7 years and 11.5 years, respectively. Amortization expense for intangible assets subject to amortization for each of the three months ended September 30, 2024 and 2023 was $0.7 million. Amortization expense for intangible assets subject to amortization for the nine months ended September 30, 2024 and 2023 was $2.1 million and $2.2 million, respectively. As of September 30, 2024, a schedule of approximate expected remaining amortization expense related to intangible assets for the years ending December 31 is as follows:
|  | Amortization |
($ in thousands) |  | Expense |
2024 |  | $ | 698 |
2025 |  |  | 2,790 |
2026 |  |  | 2,788 |
2027 |  |  | 2,785 |
2028 |  |  | 2,781 |
2029 |  |  | 2,779 |
2030+ |  |  | 17,246 |
Total |  | $ | 31,867 |

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-30/tableOfContent Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-20/tableOfContent + Details
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