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Note 4 - Goodwill and Intangible Assets | 9 Months Ended
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Sep. 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 nine months ended September 30, 2020 is as follows:
(in thousands) |  |  |  |
Carrying amount at December 31, 2019 |  | $ | 57,381 |
Effect of change in currency translation |  |  | 266 |
Carrying amount at September 30, 2020 |  | $ | 57,647 |
Intangible Assets
|  |  |  |  |  | September 30, 2020 |  |  | December 31, 2019 |
|  | Weighted |  |  | (in thousands) |
|  | Average Life* |  |  |  |  |  |  | Accumulated |  |  |  |  |  |  |  |  |  |  | Accumulated |  |  |  |  |
Amortizable intangible assets: |  | (in years) |  |  | Gross |  |  | Amortization |  |  | Net |  |  | Gross |  |  | Amortization |  |  | Net |
Distribution agreements/customer relationships |  |  | 9.1 |  |  | $ | 18,130 |  |  | $ | (7,400 | ) |  | $ | 10,730 |  |  | $ | 17,891 |  |  | $ | (6,340 | ) |  | $ | 11,551 |
Existing technology |  |  | 5.4 |  |  |  | 41,347 |  |  |  | (22,524 | ) |  |  | 18,823 |  |  |  | 41,222 |  |  |  | (19,698 | ) |  |  | 21,524 |
Trade names |  |  | 5.7 |  |  |  | 8,668 |  |  |  | (4,150 | ) |  |  | 4,518 |  |  |  | 7,692 |  |  |  | (3,497 | ) |  |  | 4,195 |
Patents |  |  | - |  |  |  | 213 |  |  |  | (213 | ) |  |  | - |  |  |  | 218 |  |  |  | (218 | ) |  |  | - |
Total amortizable intangible assets |  |  |  |  |  | $ | 68,358 |  |  | $ | (34,287 | ) |  | $ | 34,071 |  |  | $ | 67,023 |  |  | $ | (29,753 | ) |  | $ | 37,270 |
Indefinite-lived intangible assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 244 |  |  |  |  |  |  |  |  |  |  |  | 1,135 |
Total intangible assets |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 34,315 |  |  |  |  |  |  |  |  |  |  | $ | 38,405 |
* Weighted average life as of September 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 $1.4 million for each of the three months ended September 30, 2020 and 2019, respectively and was $4.3 million for each of the nine months ended September 30, 2020 and 2019, respectively. Estimated amortization expense of existing amortizable intangible assets for each of the five succeeding years and thereafter as of September 30, 2020 is as follows:
Year Ending December 31, |  | Amortization Expense |
|  | (in thousands) |
2020 (remainder of year) |  | $ | 1,676 |
2021 |  |  | 5,703 |
2022 |  |  | 5,672 |
2023 |  |  | 5,569 |
2024 |  |  | 5,267 |
Thereafter |  |  | 10,184 |
Total |  | $ | 34,071 |

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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 + Details
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