XML 31 R17.htm IDEA: XBRL DOCUMENT v3.22.1
Intangible Assets and Goodwill
 12 Months Ended
Dec. 31, 2021
Intangible Assets and Goodwill [Abstract]  
Intangible Assets and Goodwill

Note 11 — Intangible Assets and Goodwill

 

Intangible assets are initially recorded at fair value and tested periodically for impairment. Goodwill represents the excess of the purchase price over the fair value of identifiable tangible and intangible assets acquired and liabilities assumed in a business combination and is tested at least annually for impairment. The Company performs an impairment test of goodwill during the fourth quarter of each year or sooner if indicators of potential impairment arise. There were no such indicators in the years ended December 31, 2021 and December 31, 2020.

 

Intangible assets were as follows:

 

   Intangible Assets, Gross   Accumulated Amortization   Intangible Assets, Net 

(Dollar Amounts in Thousands) 

  January 1,
2021		   Additions
and
retirements,
net		   December 31,
2021		   January 1,
2021		   Expense
and
retirements,
net		   December 31,
2021		   January 1,
2021		   December 31,
2021		 
Trade names  $930   $1,488   $2,418   $(88)  $(139)  $(227)  $842   $2,191 
Customer Relationships   850    5,326    6,176    (89)   (213)   (302)   761    5,874 
Acquired developed Technology   
—
    4,911    4,911    
—
    (191)   (191)   
—
    4,720 
Non-compete   
—
    1,202    1,202    
—
    (60)   (60)   
—
    1,142 
Capitalized website costs   139    106    245    (48)   (52)   (100)   91    145 
Total  $1,919   $13,033   $14,952   $(225)  $(655)  $(880)  $1,694   $14,072 

 

Amortization expenses recorded in selling, general and administrative in the consolidated statements of operations were $655 thousand and $218 thousand for the years ended December 31, 2021 and 2020, respectively.

   

Estimated future amortization expense on finite-lived intangible assets is as follows:

 

Years Ending December 31 (Dollar Amounts in Thousands),   Amount 
2022  $2,444 
2023   2,409 
2024   2,401 
2025   2,375 
2026   2,124 
2027 and thereafter   2,319 
Total  $14,072 

  

The changes in goodwill are as follows:

 

(Dollar Amounts in Thousands)  December 31,
2021		   December 31,
2020		 
Balance, beginning of period  $632   $
—
 
Goodwill additions   49,458    632 
Balance, end of period  $50,090   $632 

 

There was no goodwill impairment identified for the years ended December 31, 2021 and December 31, 2020, respectively.