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Note 4 - Goodwill and Intangible Assets

6 Months Ended

Jun. 30, 2020

Notes to Financial Statements

Goodwill and Intangible Assets Disclosure [Text Block]

4. Goodwill and Intangible Assets

 Goodwill

The change in the carrying amount of goodwill for the six months ended June 30, 2020 is as follows:

(in thousands)
Balance at December 31, 2019		$	57,381
Effect of change in currency translation			(423	)
Balance at June 30, 2020		$	56,958

Intangible Assets

							June 30, 2020												December 31, 2019
							(in thousands)
Amortizable intangible assets:		Weighted Average Life*					Gross				Accumulated Amortization				Net				Gross				Accumulated Amortization				Net
Distribution agreements/customer relationships			9.3		Years		$	17,886			$	(6,987	)		$	10,899			$	17,891			$	(6,340	)		$	11,551
Existing technology			5.7		Years			40,976				(21,277	)			19,699				41,222				(19,698	)			21,524
Trade names			5.9		Years			8,586				(3,924	)			4,662				7,692				(3,497	)			4,195
Patents			-		Years			205				(205	)			-				218				(218	)			-
Total amortizable intangible assets							$	67,653			$	(32,393	)		$	35,260			$	67,023			$	(29,753	)		$	37,270
Indefinite-lived intangible assets:																235												1,135
Total intangible assets															$	35,495											$	38,405

* Weighted average life as of June 30, 2020.

Effective January 1, 2020, the Company determined that $0.9 million of tradenames previously classified as indefinite-lived should be classified as amortizing due to anticipated changes in worldwide marketing programs and estimated an economic life of 4 years for this intangible asset.

Intangible asset amortization expense was $1.5 million and $1.4 million for the three months ended June 30, 2020 and 2019, respectively. Intangible asset amortization expense was $2.9 million for each of the six months ended June 30, 2020 and 2019.

Estimated amortization expense of existing amortizable intangible assets for each of the five succeeding years and thereafter as of June 30, 2020 is as follows:

Year Ending December 31,		Amortization Expense
2020 (remainder of year)		$	2,844
2021			5,703
2022			5,672
2023			5,569
2024			5,267
Thereafter			10,205
Total		$	35,260

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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 http://asc.fasb.org/topic&trid=2144416

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