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Note 4 - Goodwill and Intangible Assets

12 Months Ended

Dec. 31, 2023

Goodwill and Intangible Assets Disclosure [Text Block]

4.	Goodwill and Intangible Assets

The change in the carrying amount of goodwill is as follows:

	December 31,
(in thousands)	2023		2022
Carrying amount at beginning of period	$	56,260	$	57,689
Effect of change in currency translation		805		(1,429	)
Carrying amount at end of period	$	57,065	$	56,260

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

			December 31, 2023							December 31, 2022
(in thousands)	Average				Accumulated							Accumulated
Amortizable intangible assets:	Life*		Gross		Amortization			Net		Gross		Amortization			Net
Distribution agreements/customer relationships		6	$	16,038	$	(9,706	)	$	6,332	$	16,124	$	(8,727	)	$	7,397
Existing technology & software development		2		35,007		(27,029	)		7,978		37,549		(26,482	)		11,067
Trade names and patents		3		7,613		(6,094	)		1,519		7,523		(5,197	)		2,326
Total amortizable intangible assets			$	58,658	$	(42,829	)	$	15,829	$	61,196	$	(40,406	)	$	20,790
Indefinite-lived intangible assets:									207							224
Total intangible assets								$	16,036						$	21,014

* Weighted average life in years as of December 31, 2023

During the year ended December 31, 2023, the Company wrote off approximately $3.7 million of fully amortized intangible assets of certain existing technology and other intangibles related to discontinued product lines. The Company capitalized $0.5 million of software development costs during the year ended December 31, 2023.

Intangible asset amortization expense was $5.5 million and $6.1 million for the years ended December 31, 2023 and 2022, respectively. Estimated amortization expense of existing amortizable intangible assets for each of the five succeeding years and thereafter is as follows:

(in thousands)
2024	$	5,281
2025		4,027
2026		2,366
2027		1,269
2028		1,546
Thereafter		1,340
Total	$	15,829