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Note 8 - Goodwill & Identified Intangible Assets

9 Months Ended

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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- References

No definition available.

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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

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