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Note 7 - Goodwill and Identifiable Intangibles

3 Months Ended

Mar. 31, 2024

Goodwill and Intangible Assets Disclosure [Text Block]

Note 7. Goodwill and Identifiable Intangibles

The carrying amount of goodwill is summarized as follows (in thousands):

	*March 31,*			*December 31,*
	*2024*			*2023*
Gross value	$	177,162		$	177,162
Accumulated impairment		(161,940	)		(161,940	)
Net	$	15,222		$	15,222

We perform an annual impairment analysis of goodwill as of December 31, or whenever there is a triggering event that indicates an impairment loss may have been incurred. As of March 31, 2024 and 2023, we did not identify any triggering events for Repeat Precision, our only reportable unit with goodwill, that would indicate potential impairment. Therefore, no goodwill impairment has been recorded for the three months ended March 31, 2024 and 2023, respectively.

Identifiable intangibles by major asset class consist of the following (in thousands):

		*March 31, 2024*
	*Estimated*	*Gross*
	*Useful*	*Carrying*		*Accumulated*			*Net*
	*Lives (Years)*	*Amount*		*Amortization*			*Balance*
Technology	1 - 20	$	3,958	$	(928	)	$	3,030
Customer relationships	10		4,100		(2,938	)		1,162
Total amortizable intangible assets			8,058		(3,866	)		4,192
Technology - not subject to amortization	Indefinite		48		—			48
Total identifiable intangibles		$	8,106	$	(3,866	)	$	4,240

		*December 31, 2023*
	*Estimated*	*Gross*
	*Useful*	*Carrying*		*Accumulated*			*Net*
	*Lives (Years)*	*Amount*		*Amortization*			*Balance*
Technology	1 - 20	$	3,958	$	(863	)	$	3,095
Customer relationships	10		4,100		(2,836	)		1,264
Total amortizable intangible assets			8,058		(3,699	)		4,359
Technology - not subject to amortization	Indefinite		48		—			48
Total identifiable intangibles		$	8,106	$	(3,699	)	$	4,407

Total amortization expense, which is associated with selling, general and administrative expenses on the condensed consolidated statements of operations, was $0.2 million for each of the three months ended March 31, 2024 and 2023, respectively.

Identifiable intangibles are tested for impairment whenever events or changes in circumstances indicate that their carrying amount may not be recoverable. As of March 31, 2024, we evaluated potential triggering events and determined that there were no triggering events which indicated potential impairment of our intangibles, which are substantially related to our Repeat Precision asset group. Therefore, we did not record any impairment charges related to our identifiable intangibles for the three months ended March 31, 2024 and 2023.