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Note 4 - Goodwill and Intangible Assets

9 Months Ended

Sep. 30, 2020

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