XML 27 R17.htm IDEA: XBRL DOCUMENT
v3.20.1

Goodwill and Intangible Asset Disclosure (Notes) | 12 Months Ended
--- | ---
Dec. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Intangible Assets Disclosure [Text Block] | Goodwill and Intangibles Goodwill activity for the year ended December 31, 2019 and December 31, 2018 consisted of the following:
|  | 2019 |  | 2018
Balance at beginning of year |  | $ | 21,476,000 |  |  | $ | 2,403,000 |
Additions |  | — |  |  | 21,476,000 |
Impairment |  | (4,100,000 | ) |  | (2,403,000 | )
Balance at end of year |  | $ | 17,376,000 |  |  | $ | 21,476,000 |
Due to the Company's financial performance and continued depressed stock price, the Company performed a quantitative analysis for both of its reporting units at September 30, 2019. During 2019, the Company incurred a decrease in margin in its Horizon Plastics reporting unit caused by selling price decreases that the Company has not yet been able to fully offset with material cost reductions. As a result of the quantitative analysis, the Company concluded that the carrying value of Horizon Plastics was greater than the fair value, which resulted in a goodwill impairment charge of $4,100,000 at September 30, 2019 representing 19% of the goodwill related to the Horizon Plastics reporting unit. The company performed a qualitative assessment at December 31, 2019, indicating no additional goodwill impairment related to the Horizon Plastics reporting unit. The Company’s annual impairment assessment at December 31, 2018 consisted of a quantitative analysis for both the Core Traditional and Horizon Plastics reporting units. It concluded that the carrying value of Core Traditional was greater than the fair value, which resulted in a goodwill impairment charge of $2,403,000. The analysis of the Company’s other reporting unit, Horizon Plastics, indicated no goodwill impairment charge as the excess of the estimated fair value over the carrying value of its invested capital was approximately 23% of the book value of its net assets. Intangible assets at December 31, 2019 were comprised of the following:
Definite-lived Intangible Assets |  | Amortization Period |  | Gross Carrying Amount |  | Accumulated Amortization |  | Net Carrying Amount
Trade Name |  | 25 Years |  | $ | 250,000 |  |  | $ | (48,000 | ) |  | $ | 202,000 |
Trademarks |  | 10 Years |  | 1,610,000 |  |  | (315,000 | ) |  | 1,295,000 |
Non-competition Agreement |  | 5 Years |  | 1,810,000 |  |  | (709,000 | ) |  | 1,101,000 |
Developed Technology |  | 7 Years |  | 4,420,000 |  |  | (1,237,000 | ) |  | 3,183,000 |
Customer Relationships |  | 10-12 Years |  | 9,330,000 |  |  | (1,647,000 | ) |  | 7,683,000 |
Total |  |  |  | $ | 17,420,000 |  |  | $ | (3,956,000 | ) |  | $ | 13,464,000 |
Intangible assets at December 31, 2018 were comprised of the following:
Definite-lived Intangible Assets |  | Amortization Period |  | Gross Carrying Amount |  | Accumulated Amortization |  | Net Carrying Amount
Trade Name |  | 25 Years |  | $ | 250,000 |  |  | $ | (38,000 | ) |  | $ | 212,000 |
Trademarks |  | 10 Years |  | 1,610,000 |  |  | (154,000 | ) |  | 1,456,000 |
Non-competition Agreement |  | 5 Years |  | 1,810,000 |  |  | (347,000 | ) |  | 1,463,000 |
Developed Technology |  | 7 Years |  | 4,420,000 |  |  | (605,000 | ) |  | 3,815,000 |
Customer Relationships |  | 10-12 Years |  | 9,330,000 |  |  | (863,000 | ) |  | 8,467,000 |
Total |  |  |  | $ | 17,420,000 |  |  | $ | (2,007,000 | ) |  | $ | 15,413,000 |
The aggregate intangible asset amortization expense was $1,949,000 for the year ended December 31, 2019 and amortization expense is expected to be same each year through the year ended December 31, 2022 and $1,587,000 for the year ended December 31, 2023. The Company incurred $1,869,000 and $50,000 amortization expense for the years ended December 31, 2018 and 2017, respectively. As of December 31, 2019, future intangible amortization were as follows:
| Amortization Expense
2020 | $ | 1,949,000 |
2021 | 1,949,000 |
2022 | 1,949,000 |
2023 | 1,602,000 |
2024 | 1,587,000 |
2025 and thereafter | 4,428,000 |
Total intangibles as of December 31, 2019 | 13,464,000 |

X
- References No definition available. + Details
Name: | us-gaap_GoodwillAndIntangibleAssetsDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -URI http://asc.fasb.org/topic&trid=2144416 + Details
Name: | us-gaap_GoodwillAndIntangibleAssetsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration