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Note 4 - Goodwill and Intangible Assets

12 Months Ended

Dec. 31, 2020

Goodwill and Intangible Assets Disclosure [Text Block]

Goodwill and Intangible Assets

Goodwill

The change in the carrying amount of goodwill for the year ended December 31, 2020 and 2019 are as follows:

	December 31,
(in thousands)	2020		2019
Balance at beginning of year	$	57,381	$	57,304
Effect of change in currency translation		1,209		77
Balance at end of year	$	58,590	$	57,381

			December 31,
			2020							2019
	Weighted		(in thousands)
Amortizable intangible assets:	Average Life (Years)*		Gross		Accumulated Amortization			Net		Gross		Accumulated Amortization			Net
Distribution agreements/customer relationships		8.8	$	18,237	$	(7,746	)	$	10,491	$	17,891	$	(6,340	)	$	11,551
Existing technology		5.2		38,761		(20,674	)		18,087		41,222		(19,698	)		21,524
Trade names and patents		5.4		8,681		(4,362	)		4,319		7,910		(3,715	)		4,195
Total amortizable intangible assets			$	65,679	$	(32,782	)	$	32,897	$	67,023	$	(29,753	)	$	37,270
Indefinite-lived intangible assets:									254							1,135
Total intangible assets								$	33,151						$	38,405

* Weighted average life as of December 31, 2020.

During the year ended December 31, 2020, the Company removed from its records approximately $3.5 million of fully amortized intangible assets and determined that $0.9 million of tradenames previously classified as indefinite-lived should be classified as amortizing due to anticipated changes in its worldwide marketing programs. During fiscal 2020 there were no impairment charges related to intangible assets.

During the year ended December 31, 2019, the Company recorded impairment charges of $1.5 million consisting of a charge of $0.9 million to write-off certain in-process research and development intangible assets due to a strategic shift in the direction of the project, and $0.5 million of charges to write-off certain intangible assets as a result of the decision to discontinue a product line and cease operations in its facility in North Carolina, and other charges of $0.1 million.

Intangible asset amortization expense was $5.7 million for each of the years ended December 31, 2020 and 2019, respectively. Estimated amortization expense of existing amortizable intangible assets for each of the five succeeding years and thereafter as of December 31, 2020 is as follows:

	Amortization
Year Ending December 31,	Expense
	(in thousands)
2021	$	5,774
2022		5,740
2023		5,627
2024		5,318
2025		4,204
Thereafter		6,234
Total	$	32,897