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GOODWILL AND OTHER INTANGIBLE ASSETS

6 Months Ended

Jun. 30, 2022

GOODWILL AND OTHER INTANGIBLE ASSETS

GOODWILL AND OTHER INTANGIBLE ASSETS

(6)   GOODWILL AND OTHER INTANGIBLE ASSETS

During the year ended December 31, 2021 the Company completed the acquisition of Kestrel, which resulted in goodwill of $20.4 million (see Note 5).

As of June 30, 2022, there were no impairment indicators of the Company’s net asset value.

The following table provides the summary of the Company’s intangible assets as of June 30, 2022.

​

​	​	​	​	​	​	​	​	​	​	​	​
​	​	​	​	​	​	​	​	​	​	​	Weighted-
​	​	​	​	​	​	​	​	​	​		Average
​		Gross		​	​	​	​	​	​		Remaining
​		Carrying			Accumulated			Net Carrying			Life (in
​		Amount			Amortization			Amount			years)
Acquired patents at December 31, 2021	​	$	10,000	​	$	(25)	​	$	9,975	​	11.00
Amortization expense	​	​	​	​	​	(450)	​	​	(450)	​	​
Acquired patents at June 30, 2022	​	$	10,000	​	$	(475)	​	$	9,525		10.48

​

The following table summarizes the estimated future amortization expense to be recognized over the remainder of 2022, next five fiscal years, and periods thereafter:

​

​	​	​	​
​		(In thousands)
July 1, 2022 through December 31, 2022	​	$	458
2023	​		908
2024	​		911
2025	​		908
2026	​		908
2027	​	​	908
Thereafter	​		4,524
Total future amortization expense	​	$	9,525

​

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- References

No definition available.

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- 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

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