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Note 3 - Goodwill and Intangible Assets | 6 Months Ended
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Jun. 30, 2019
Notes to Financial Statements |
Goodwill and Intangible Assets Disclosure [Text Block] |
( 3 ) | GOODWILL AND INTANGIBLE ASSETS
Goodwill and intangible assets on our balance sheets are the result of our acquisitions of Sigma Systems Corp. ("Sigma") in October 2008, Thermonics, Inc. ("Thermonics") in January 2012 and Ambrell in May 2017. All of our goodwill and intangible assets are allocated to our Thermal segment. Goodwill totaled $13,738 at each of June 30, 2019 and December 31, 2018. Intangible Assets Changes in the amount of the carrying value of finite-lived intangible assets for the six months ended June 30, 2019 are as follows:
Balance - January 1, 2019 |  | $ | 8,201 |
Amortization |  |  | (632 | )
Balance - June 30, 2019 |  | $ | 7,569 |
The following tables provide further detail about our intangible assets as of June 30, 2019 and December 31, 2018:
|  | June 30, 201 9 |
|  | Gross Carrying Amount |  |  | Accumulated Amortization |  |  | Net Carrying Amount |
Finite-lived intangible assets: |  |  |  |  |  |  |  |  |  |  |  |
Customer relationships |  | $ | 10,480 |  |  | $ | 3,258 |  |  | $ | 7,222 |
Technology |  |  | 600 |  |  |  | 321 |  |  |  | 279 |
Patents |  |  | 590 |  |  |  | 522 |  |  |  | 68 |
Software |  |  | 270 |  |  |  | 270 |  |  |  | - |
Trade name |  |  | 140 |  |  |  | 140 |  |  |  | - |
Customer backlog |  |  | 500 |  |  |  | 500 |  |  |  | - |
Total finite-lived intangible assets |  |  | 12,580 |  |  |  | 5,011 |  |  |  | 7,569 |
Indefinite-lived intangible assets: |  |  |  |  |  |  |  |  |  |  |  |
Trademarks |  |  | 6,710 |  |  |  | - |  |  |  | 6,710 |
Total intangible assets |  | $ | 19,290 |  |  | $ | 5,011 |  |  | $ | 14,279 |
|  | December 31, 2018 |
|  | Gross Carrying Amount |  |  | Accumulated Amortization |  |  | Net Carrying Amount |
Finite-lived intangible assets: |  |  |  |  |  |  |  |  |  |  |  |
Customer relationships |  | $ | 10,480 |  |  | $ | 2,717 |  |  | $ | 7,763 |
Technology |  |  | 600 |  |  |  | 250 |  |  |  | 350 |
Patents |  |  | 590 |  |  |  | 502 |  |  |  | 88 |
Software |  |  | 270 |  |  |  | 270 |  |  |  | - |
Trade name |  |  | 140 |  |  |  | 140 |  |  |  | - |
Customer backlog |  |  | 500 |  |  |  | 500 |  |  |  | - |
Total finite-lived intangible assets |  |  | 12,580 |  |  |  | 4,379 |  |  |  | 8,201 |
Indefinite-lived intangible assets: |  |  |  |  |  |  |  |  |  |  |  |
Trademarks |  |  | 6,710 |  |  |  | - |  |  |  | 6,710 |
Total intangible assets |  | $ | 19,290 |  |  | $ | 4,379 |  |  | $ | 14,911 |
We generally amortize our finite-lived intangible assets over their estimated useful lives on a straight-line basis, unless an alternate amortization method can be reliably determined. Any such alternate amortization method would be based on the pattern in which the economic benefits of the intangible asset are expected to be consumed. None of our intangible assets have any residual value. Total amortization expense for our finite-lived intangible assets was $315 and $632 for the three and six months ended June 30, 2019, respectively, and $247 and $463 for the three and six months ended June 30, 2018, respectively. The following table sets forth the estimated annual amortization expense for each of the next five years:
2019 (remainder) |  | $ | 625 |
2020 |  | $ | 1,233 |
2021 |  | $ | 1,227 |
2022 |  | $ | 1,167 |
2023 |  | $ | 1,067 |

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