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Note 3 - Goodwill and Intangible Assets

9 Months Ended

Sep. 30, 2023

Goodwill and Intangible Assets Disclosure [Text Block]

3.	Goodwill and Intangible Assets

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

(in thousands)
Carrying amount at December 31, 2022	$	56,260
Effect of change in currency translation		(38	)
Carrying amount at September 30, 2023	$	56,222

Intangible assets at September 30, 2023 and December 31, 2022 consist of the following:

			September 30, 2023							December 31, 2022
(in thousands)	Average				Accumulated							Accumulated
Amortizable intangible assets:	Life*		Gross		Amortization			Net		Gross		Amortization			Net
Distribution agreements/customer relationships		6	$	16,017	$	(9,467	)	$	6,550	$	16,124	$	(8,727	)	$	7,397
Existing technology & software development		2		37,490		(28,851	)		8,639		37,549		(26,482	)		11,067
Trade names and patents		3		7,484		(5,774	)		1,710		7,523		(5,197	)		2,326
Total amortizable intangible assets			$	60,991	$	(44,092	)	$	16,899	$	61,196	$	(40,406	)	$	20,790
Indefinite-lived intangible assets:									196							224
Total intangible assets								$	17,095						$	21,014

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

Intangible asset amortization expense was $1.4 million and $1.6 million for the three months ended September 30, 2023 and 2022, respectively, and $4.1 million and $4.5 million for the nine months ended September 30, 2023 and 2022, respectively. Estimated amortization expense of existing amortizable intangible assets for each of the five succeeding years and thereafter as of September 30, 2023, is as follows:

(in thousands)
2023 (remainder of the year)	$	1,383
2024		5,234
2025		4,019
2026		2,358
2027		1,261
2028		1,308
Thereafter		1,336
Total	$	16,899