XML 31 R17.htm IDEA: XBRL DOCUMENT

Goodwill and Intangibles

12 Months Ended

Dec. 31, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill activity for the year consisted of the following at December 31, (in thousands):


	2022		2021
Balance at beginning of year	$	17,376	$	17,376
Additions	—		—
Impairment	—		—
Balance at end of year	$	17,376	$	17,376

Intangible assets at December 31, 2022 were comprised of the following (in thousands):


Definite-lived Intangible Assets	Amortization Period	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Trade Name	25 years	$	250	$	(78)	$	172
Trademarks	10 years	1,610		(798)		812
Non-competition Agreement	5 years	1,810		(1,795)		15
Developed Technology	7 years	4,420		(3,131)		1,289
Customer Relationships	10-12 years	9,330		(3,999)		5,331
Total		$	17,420	$	(9,801)	$	7,619

Intangible assets at December 31, 2021 were comprised of the following (in thousands):


Definite-lived Intangible Assets	Amortization Period	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Trade Name	25 years	$	250	$	(68)	$	182
Trademarks	10 years	1,610		(637)		973
Non-competition Agreement	5 years	1,810		(1,433)		377
Developed Technology	7 years	4,420		(2,499)		1,921
Customer Relationships	10-12 years	9,330		(3,216)		6,114
Total		$	17,420	$	(7,853)	$	9,567

The Company incurred $1,948,000, $1,949,000 and $1,948,000 of amortization expense for the years ended December 31, 2022, 2021, and 2020, respectively.

As of December 31, 2022, future intangible amortization was follows (in thousands):


	Amortization Expense
2023	$	1,602
2024	1,587
2025	952
2026	916
2027	916
2028 and thereafter	1,646
Total intangibles as of December 31, 2022	$	7,619