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Intangible Assets

6 Months Ended

Jun. 30, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets

Intangible Assets

The following table presents the components of net intangible assets (in thousands):

			As of June 30, 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					$	(769)					$	225					$	994					$	(735)					$	259
Oblong Industries
Developed technology			$	10,060					$	(3,528)					$	6,532					$	10,060					$	(2,520)					$	7,540
Trade names			2,410						(422)						1,988						2,410						(302)						2,108
Distributor relationships			310						(109)						201						310						(77)						233
Subtotal			12,780						(4,059)						8,721						12,780						(2,899)						9,881
Total			$	13,774					$	(4,828)					$	8,946					$	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, 2021, we considered the decline in revenue for Oblong Industries to be a triggering event for a recoverability 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. During the three months ended June 30, 2021, we did not identify a triggering event, therefore no impairment charges were required for the three months ended June 30, 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 economic 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, $1,194,000, $613,000, and $1,224,000 for the three and six months ended June 30, 2021 and 2020, respectively.

Amortization expense for each of the next five succeeding years will be as follows (in thousands):

Remainder of 2021			$	1,194
2022			2,385
2023			2,378
2024			1,844
2025			241
Thereafter			904
Total			$	8,946

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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

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