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Note 4 - Goodwill and Intangible Assets

12 Months Ended

Dec. 31, 2021

Goodwill and Intangible Assets Disclosure [Text Block]

Goodwill and Intangible Assets

The change in the carrying amount of goodwill for the year ended December 31, 2021 and 2020 are as follows:

	December 31,
(in thousands)	2021			2020
Balance beginning of year	$	58,590		$	57,381
Effect of change in currency translation		(901	)		1,209
Balance at end of year	$	57,689		$	58,590

Identifiable intangible assets at December 31, 2021 and 2020 consist of the following:

			December 31,
			2021							2020
(in thousands)	Average				Accumulated							Accumulated
Amortizable intangible assets:	Life*		Gross		Amortization			Net		Gross		Amortization			Net
Distribution agreements/customer relationships		7.9	$	17,689	$	(8,675	)	$	9,014	$	18,237	$	(7,746	)	$	10,491
Existing technology		4.2		38,707		(23,962	)		14,745		38,761		(20,674	)		18,087
Trade names and patents		4.5		8,496		(5,108	)		3,388		8,681		(4,362	)		4,319
Total amortizable intangible assets			$	64,892	$	(37,745	)	$	27,147	$	65,679	$	(32,782	)	$	32,897
Indefinite-lived intangible assets:									238							254
Total intangible assets								$	27,385						$	33,151

* Weighted average life in years as of December 31, 2021

Intangible asset amortization expense was $5.8 million and $5.7 million of the years ended December 31, 2021 and 2020, respectively. Estimated amortization expense of existing amortizable intangible assets for each of the five succeeding years and thereafter is as follows:

	Amortization
Year Ending December 31,	Expense
(in thousands)
2022	$	5,766
2023		5,661
2024		5,359
2025		4,262
2026		2,452
Thereafter		3,647
Total	$	27,147