XML 24 R14.htm IDEA: XBRL DOCUMENT
v3.22.2

Note 7 - Goodwill and Intangible Assets | 6 Months Ended
--- | ---
Jun. 30, 2022
Notes to Financial Statements |
Goodwill and Intangible Assets Disclosure [Text Block] |
(7) | GOODWILL AND INTANGIBLE ASSETS
We have three operating segments which are also our reporting units: Electronic Test, Environmental Technologies and Process Technologies. Goodwill and intangible assets on our balance sheets are the result of our acquisitions. Goodwill Changes in the amount of the carrying value of goodwill for the six months ended June 30, 2022 are as follows:
Balance - January 1, 2022 |  | $ | 21,448 |
Adjustments to preliminary amounts recorded in the fourth quarter of 2021 for contingent consideration and intangible assets related to acquisition of Acculogic (see Note 3) |  |  | 451 |
Impact of foreign currency translation adjustments |  |  | (179 | )
Balance - June 30, 2022 |  | $ | 21,720 |
Goodwill was comprised of the following at June 30, 2022 and December 31, 2021:
|  | June 30, |  |  | December 31, |
|  | 2022 |  |  | 2021 |
Electronic Test |  | $ | 3,521 |  |  | $ | 3,055 |
Environmental Technologies |  |  | 1,817 |  |  |  | 1,817 |
Process Technologies |  |  | 16,382 |  |  |  | 16,576 |
Total goodwill |  | $ | 21,720 |  |  | $ | 21,448 |
Intangible Assets Changes in the amount of the carrying value of indefinite-lived intangible assets for the six months ended June 30, 2022 are as follows:
Balance - January 1, 2022 |  | $ | 8,428 |
Adjustments to preliminary amounts recorded in the fourth quarter of 2021 related to acquisition of Acculogic (see Note 3) |  |  | 20 |
Impact of foreign currency translation adjustments |  |  | (41 | )
Balance - June 30, 2022 |  | $ | 8,407 |
Changes in the amount of the carrying value of finite-lived intangible assets for the six months ended June 30, 2022 are as follows:
Balance - January 1, 2022 |  | $ | 13,206 |
Adjustments to preliminary amounts recorded in the fourth quarter of 2021 related to acquisition of Acculogic (see Note 3) |  |  | 29 |
Impact of foreign currency translation adjustments |  |  | (188 | )
Amortization |  |  | (1,547 | )
Balance - June 30, 2022 |  | $ | 11,500 |
Intangible assets were allocated to our reporting segments at June 30, 2022 and December 31, 2021 as follows:
|  | June 30, |  |  | December 31, |
|  | 2022 |  |  | 2021 |
Electronic Test: |  | $ | 4,632 |  |  | $ | 5,074 |
Environmental Technologies |  |  | 862 |  |  |  | 893 |
Process Technologies |  |  | 14,413 |  |  |  | 15,667 |
Total intangible assets |  | $ | 19,907 |  |  | $ | 21,634 |
The following tables provide further detail about our intangible assets as of June 30, 2022 and December 31, 2021:
|  | June 30, 2022 |
|  | Gross Carrying Amount |  |  | Accumulated Amortization |  |  | Net Carrying Amount |
Finite-lived intangible assets: |  |  |  |  |  |  |  |  |  |  |  |
Customer relationships |  | $ | 16,428 |  |  | $ | 7,093 |  |  | $ | 9,335 |
Technology |  |  | 2,912 |  |  |  | 788 |  |  |  | 2,124 |
Patents |  |  | 590 |  |  |  | 588 |  |  |  | 2 |
Backlog |  |  | 495 |  |  |  | 456 |  |  |  | 39 |
Software |  |  | 270 |  |  |  | 270 |  |  |  | - |
Trade name |  |  | 140 |  |  |  | 140 |  |  |  | - |
Total finite-lived intangible assets |  |  | 20,835 |  |  |  | 9,335 |  |  |  | 11,500 |
Indefinite-lived intangible assets: |  |  |  |  |  |  |  |  |  |  |  |
Trademarks |  |  | 8,407 |  |  |  | - |  |  |  | 8,407 |
Total intangible assets |  | $ | 29,242 |  |  | $ | 9,335 |  |  | $ | 19,907 |
|  | December 31, 2021 |
|  | Gross Carrying Amount |  |  | Accumulated Amortization |  |  | Net Carrying Amount |
Finite-lived intangible assets: |  |  |  |  |  |  |  |  |  |  |  |
Customer relationships |  | $ | 16,544 |  |  | $ | 6,160 |  |  | $ | 10,384 |
Technology |  |  | 2,950 |  |  |  | 569 |  |  |  | 2,381 |
Patents |  |  | 590 |  |  |  | 585 |  |  |  | 5 |
Backlog |  |  | 521 |  |  |  | 85 |  |  |  | 436 |
Software |  |  | 270 |  |  |  | 270 |  |  |  | - |
Trade name |  |  | 140 |  |  |  | 140 |  |  |  | - |
Total finite-lived intangible assets |  |  | 21,015 |  |  |  | 7,809 |  |  |  | 13,206 |
Indefinite-lived intangible assets: |  |  |  |  |  |  |  |  |  |  |  |
Trademarks |  |  | 8,428 |  |  |  | - |  |  |  | 8,428 |
Total intangible assets |  | $ | 29,443 |  |  | $ | 7,809 |  |  | $ | 21,634 |
We generally amortize our finite-lived intangible assets over their estimated useful lives based on the pattern in which the economic benefits of the intangible assets are expected to be consumed, or on a straight-line basis, if an alternate amortization method cannot be reliably determined. Any such alternate amortization method would. None of our intangible assets have any residual value. The following table sets forth the estimated annual amortization expense for each of the next five years:
2022 (remainder) |  | $ | 1,160 |
2023 |  | $ | 2,112 |
2024 |  | $ | 1,989 |
2025 |  | $ | 1,778 |
2026 |  | $ | 1,169 |

X
- References No definition available. + Details
Name: | us-gaap_DisclosureTextBlockAbstract
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 https://asc.fasb.org/topic&trid=2144416 + Details
Name: | us-gaap_GoodwillAndIntangibleAssetsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration