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Note 4 - Goodwill and Intangible Assets | 12 Months Ended
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Dec. 31, 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 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 |

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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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