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Note 3 - Goodwill and Intangible Assets

6 Months Ended

Jun. 30, 2023

Goodwill and Intangible Assets Disclosure [Text Block]

3.	Goodwill and Intangible Assets

The change in the carrying amount of goodwill for the six months ended June 30, 2023 is as follows:

(in thousands)
Carrying amount at December 31, 2022	$	56,260
Effect of change in currency translation		511
Carrying amount at June 30, 2023	$	56,771

Identifiable intangible assets at June 30, 2023 and December 31, 2022 consist of the following:

		June 30, 2023							December 31, 2022
(in thousands)	Average			Accumulated							Accumulated
Amortizable intangible assets:	Life*	Gross		Amortization			Net		Gross		Amortization			Net
Distribution agreements/customer relationships	7	$	16,185	$	(9,323	)	$	6,862	$	16,124	$	(8,727	)	$	7,397
Existing technology and software development	3		37,512		(28,140	)		9,372		37,549		(26,482	)		11,067
Trade names and patents	3		7,539		(5,619	)		1,920		7,523		(5,197	)		2,326
Total amortizable intangible assets		$	61,236	$	(43,082	)	$	18,154	$	61,196	$	(40,406	)	$	20,790
Indefinite-lived intangible assets:								202							224
Total intangible assets							$	18,356						$	21,014

*Weighted average life in years as of June 30, 2023

Intangible asset amortization expense was $1.4 million and $1.5 million for the three months ended June 30, 2023 and 2022, respectively, and $2.8 million and $2.9 million for the six months ended June 30, 2023 and 2022, respectively. Estimated amortization expense of existing amortizable intangible assets for each of the five succeeding years and thereafter as of June 30, 2023, is as follows:

(in thousands)
2023 (remainder of the year)	$	2,777
2024		5,255
2025		4,024
2026		2,363
2027		1,266
2028		1,127
Thereafter		1,342
Total	$	18,154