XML 20 R10.htm IDEA: XBRL DOCUMENT
v3.23.2

Goodwill and Other Intangible Assets, Net | 6 Months Ended
--- | ---
Jun. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Other Intangible Assets, Net |
3. | Goodwill and Other Intangible Assets, net
Goodwill related to our June 15, 2015, acquisition of Hudson Global Resources Management’s U.S. IT staffing business (“Hudson IT”) totaled $8.4 million. Goodwill related to our July 13, 2017, acquisition of the services division of InfoTrellis totaled $27.4 million. During 2018, the Company recorded a goodwill impairment of $9.7 million related to the InfoTrellis acquisition. Goodwill related to our October 1, 2020, acquisition of AmberLeaf totaled $6.4 million. The Company is amortizing the identifiable intangible assets on a straight-line basis over estimated average lives ranging from 3 to 12 years. Identifiable intangible assets were comprised of the following as of June 30, 2023, and December 31, 2022:
|  | As of June 30, 2023 |
(Amounts in thousands) |  | Amortization Period (In Years) |  |  | Gross Carrying Value |  |  | Accumulative Amortization |  |  | Net Carrying Value |
IT Staffing Services: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Client relationships |  |  | 12 |  |  | $ | 7,999 |  |  | $ | 5,360 |  |  | $ | 2,639 |
Covenant-not-to-compete |  |  | 5 |  |  |  | 319 |  |  |  | 319 |  |  |  | — |
Trade name |  |  | 3 |  |  |  | 249 |  |  |  | 249 |  |  |  | — |
Data and Analytics Services: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Client relationships |  |  | 12 |  |  |  | 19,641 |  |  |  | 8,959 |  |  |  | 10,682 |
Covenant-not-to-compete |  |  | 5 |  |  |  | 1,201 |  |  |  | 1,003 |  |  |  | 198 |
Trade name |  |  | 5 |  |  |  | 1,711 |  |  |  | 1,490 |  |  |  | 221 |
Technology |  |  | 7 |  |  |  | 1,979 |  |  |  | 1,332 |  |  |  | 647 |
Total Intangible Assets |  |  |  |  |  | $ | 33,099 |  |  | $ | 18,712 |  |  | $ | 14,387 |
|  | As of December 31, 2022 |
(Amounts in thousands) |  | Amortization Period (In Years) |  |  | Gross Carrying Value |  |  | Accumulative Amortization |  |  | Net Carrying Value |
IT Staffing Services: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Client relationships |  |  | 12 |  |  | $ | 7,999 |  |  | $ | 5,027 |  |  | $ | 2,972 |
Covenant-not-to-compete |  |  | 5 |  |  |  | 319 |  |  |  | 319 |  |  |  | — |
Trade name |  |  | 3 |  |  |  | 249 |  |  |  | 249 |  |  |  | — |
Data and Analytics Services: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Client relationships |  |  | 12 |  |  |  | 19,641 |  |  |  | 8,140 |  |  |  | 11,501 |
Covenant-not-to-compete |  |  | 5 |  |  |  | 1,201 |  |  |  | 959 |  |  |  | 242 |
Trade name |  |  | 5 |  |  |  | 1,711 |  |  |  | 1,441 |  |  |  | 270 |
Technology |  |  | 7 |  |  |  | 1,979 |  |  |  | 1,191 |  |  |  | 788 |
Total Intangible Assets |  |  |  |  |  | $ | 33,099 |  |  | $ | 17,326 |  |  | $ | 15,773 |
Amortization expense for the three and six-month periods ended June 30, 2023, totaled $693,000 and $1.4 million, respectively and is included in selling, general and administrative expenses in the Condensed Consolidated Statement of Operations. For the three and six month periods ended June 30, 2022, amortization expense was $792,000 and $1.6 million, respectively. The estimated aggregate amortization expense for intangible assets for the years ending December 31, 2023, through December 31, 2027, is as follows:
|  | Years Ended December 31, |
|  | 2023 |  |  | 2024 |  |  | 2025 |  |  | 2026 |  |  | 2027 |
|  | (Amounts in thousands) |
Amortization expense |  | $ | 2,772 |  |  | $ | 2,693 |  |  | $ | 2,553 |  |  | $ | 2,413 |  |  | $ | 2,025 |

X
- References No definition available. + Details
Name: | us-gaap_GoodwillAndIntangibleAssetsDisclosureAbstract
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 -Topic 350 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//350/tableOfContent + Details
Name: | us-gaap_GoodwillAndIntangibleAssetsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration