Intangible Assets

12 Months Ended

Dec. 31, 2020

Intangible Assets Net Excluding Goodwill [Abstract]

Note 11 – Intangible Assets

Intangible assets as of December 31, 2020 and 2019, consisted of the following:

	2020							2019
(In thousands)	Gross Value		Accumulated Amortization			Net Value		Gross Value		Accumulated Amortization			Net Value
Customer relationships	$	21,123	$	(8,055	)	$	13,068	$	22,356	$	(7,233	)	$	15,123
Developed technology		8,200		(2,546	)		5,654		10,170		(3,379	)		6,791
Licensed technology		5,900		(1,830	)		4,070		5,900		(1,174	)		4,726
Supplier relationships		2,800		(2,800	)		—		2,800		(2,508	)		292
Licensing agreements		560		(152	)		408		560		(79	)		481
Patents		500		(294	)		206		500		(226	)		274
Trade names		210		(146	)		64		310		(176	)		134
Total	$	39,293	$	(15,823	)	$	23,470	$	42,596	$	(14,775	)	$	27,821

The Company evaluates the carrying value of intangible assets whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable and the undiscounted cash flows estimated to be generated by the asset are less than the asset’s carrying value. No impairment losses of intangible assets were recorded during the year ended December 31, 2020, 2019 or 2018.

Amortization expense was $4.4 million, $5.3 million and $2.3 million for the years ended December 31, 2020, 2019 and 2018, respectively, and was included in cost of sales, selling, general and administrative expenses and research and development expenses in the Consolidated Statements of Income (Loss).

As of December 31, 2020, estimated future amortization expense of intangible assets was as follows:

(In thousands)	Amount
2021	$	4,119
2022		3,494
2023		3,340
2024		3,245
2025		3,031
Thereafter		6,241
Total	$	23,470