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Note 3 - Goodwill and Intangible Assets | 9 Months Ended
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Sep. 30, 2022
Notes to Financial Statements |
Goodwill and Intangible Assets Disclosure [Text Block] |
3. | Goodwill and Intangible Assets
Goodwill The change in the carrying amount of goodwill for the nine months ended September 30, 2022, were as follows:
(in thousands) |  |  |  |
Carrying amount at December 31, 2021 |  | $ | 57,689 |
Effect of change in currency translation |  |  | (2,838 | )
Carrying amount at September 30, 2022 |  | $ | 54,851 |
Intangible Assets Identifiable intangible assets at September 30, 2022 and December 31, 2021 consist of the following:
|  |  |  |  |  | September 30, 2022 |  |  | December 31, 2021 |
(in thousands) |  | Average |  |  |  |  |  |  | Accumulated |  |  |  |  |  |  |  |  |  |  | Accumulated |  |  |  |  |
Amortizable intangible assets: |  | Life* |  |  | Gross |  |  | Amortization |  |  | Net |  |  | Gross |  |  | Amortization |  |  | Net |
Distribution agreements/customer relationships |  |  | 7.3 |  |  | $ | 16,716 |  |  | $ | (9,034 | ) |  | $ | 7,682 |  |  | $ | 17,689 |  |  | $ | (8,675 | ) |  | $ | 9,014 |
Existing technology |  |  | 3.5 |  |  |  | 37,744 |  |  |  | (25,748 | ) |  |  | 11,996 |  |  |  | 38,707 |  |  |  | (23,962 | ) |  |  | 14,745 |
Trade names and patents |  |  | 3.8 |  |  |  | 8,162 |  |  |  | (5,583 | ) |  |  | 2,579 |  |  |  | 8,496 |  |  |  | (5,108 | ) |  |  | 3,388 |
Total amortizable intangible assets |  |  |  |  |  | $ | 62,622 |  |  | $ | (40,365 | ) |  | $ | 22,257 |  |  | $ | 64,892 |  |  | $ | (37,745 | ) |  | $ | 27,147 |
Indefinite-lived intangible assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 207 |  |  |  |  |  |  |  |  |  |  |  | 238 |
Total intangible assets |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 22,464 |  |  |  |  |  |  |  |  |  |  | $ | 27,385 |
* Weighted average life in years as of September 30, 2022 |
Intangible asset amortization expense was $1.6 million and $1.5 million for the three months ended September 30, 2022 and 2021, respectively, and $4.5 million and $4.4 million for the nine months ended September 30, 2022 and 2021, respectively. Estimated amortization expense of intangible assets for each of the five succeeding years and thereafter as of September 30, 2022, is as follows:
(in thousands) |  |  |  |
2022 (remainder of year) |  | $ | 1,564 |
2023 |  |  | 5,486 |
2024 |  |  | 5,194 |
2025 |  |  | 4,009 |
2026 |  |  | 2,348 |
Thereafter |  |  | 3,656 |
Total |  | $ | 22,257 |

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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 https://asc.fasb.org/topic&trid=2144416 + Details
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