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Intangible Assets | 3 Months Ended
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Mar. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract] |
Intangible Assets | Note 4 - Intangible Assets The following table presents the components of net intangible assets (in thousands):
| As of March 31, 2021 |  | As of December 31, 2020
| Gross Carrying Amount |  | Accumulated Amortization |  | Net Carrying Amount |  | Gross Carrying Amount |  | Accumulated Amortization |  | Net Carrying Amount
Oblong (formerly Glowpoint) |  |  |  |  |  |  |  |  |  |  |
Affiliate network | $ | 994 |  |  | $ | (752) |  |  | $ | 242 |  |  | $ | 994 |  |  | $ | (735) |  |  | $ | 259 |
Oblong Industries |  |  |  |  |  |  |  |  |  |  |
Developed technology | $ | 10,060 |  |  | $ | (3,024) |  |  | $ | 7,036 |  |  | $ | 10,060 |  |  | $ | (2,520) |  |  | $ | 7,540 |
Trade names | 2,410 |  |  | (362) |  |  | 2,048 |  |  | 2,410 |  |  | (302) |  |  | 2,108 |
Distributor relationships | 310 |  |  | (93) |  |  | 217 |  |  | 310 |  |  | (77) |  |  | 233 |
Subtotal | 12,780 |  |  | (3,479) |  |  | 9,301 |  |  | 12,780 |  |  | (2,899) |  |  | 9,881 |
Total | $ | 13,774 |  |  | $ | (4,231) |  |  | $ | 9,543 |  |  | $ | 13,774 |  |  | $ | (3,634) |  |  | $ | 10,140 |
At each reporting period, we determine if there was a triggering event that may result in an impairment of our intangible assets. During the three months ended March 31, 2020, we considered the novel Coronavirus (COVID-19) pandemic and resulting declines in certain of the Company’s revenue to be a triggering event for an interim impairment test of intangible assets for both reporting units. Based on the corresponding recoverability test, we determined that no impairment charges were required for the three months ended March 31, 2020. During the three months ended March 31, 2021, we considered the decline in revenue for Oblong Industries to be a triggering event for an interim impairment test of intangible assets for this reporting unit. Based on the corresponding recoverability test of Oblong Industries’ intangible assets, we determined no impairment changes were required for the three months ended March 31, 2021. Intangible assets with finite lives are amortized using the straight-line method over the estimated economic lives of the assets, which range from five years to twelve years in accordance with ASC Topic 350. The weighted average lives for the components of intangible assets are as follows:
Oblong (formerly Glowpoint) |
Affiliate network | 12 years
Oblong Industries |
Developed technology | 5 years
Trade names | 10 years
Distributor relationships | 5 years
Related amortization expense was $597,000 and $611,000 for the three months ended March 31, 2021 and 2020, respectively. Amortization expense for each of the next five succeeding years will be as follows (in thousands):
Remainder of 2021 | $ | 1,791 |
2022 | 2,386 |
2023 | 2,378 |
2024 | 1,843 |
2025 | 241 |
Thereafter | 904 |
Total | $ | 9,543 |

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- Definition The entire disclosure for all or part of the information related to intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -URI http://asc.fasb.org/topic&trid=2144416 + Details
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