Quarterly report pursuant to Section 13 or 15(d)

Intangible Assets and Goodwill (Tables)

v3.21.1
Intangible Assets and Goodwill (Tables)
3 Months Ended
Mar. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Intangible Assets

The following table summarizes identifiable intangible assets of the Company as of December 31, 2020 and March 31, 2021:

 

March 31, 2021 (Unaudited)   Useful Lives (In Years)   Gross Carrying Amount     Accumulated Amortization     Net Carrying Amount  
Amortized:                            
Customer relationships   9-12   $ 19,264     $ (3,139 )   $ 16,125  
Trademark and tradename   3-15     7,553       (1,493 )     6,060  
Patents   7-11     2,117       (1,683 )     434  
Technology   7     10,911       (3,806 )     7,105  
Favorable contract interest   4     388       (356 )     32  
Covenant not to compete   5     208       (152 )     56  
          40,441       (10,629 )     29,812  
                             
Unamortized:                            
Customer List         104       -       104  
Trademark and tradename         61       -       61  
                             
          165       -       165  
                             
Total       $ 40,606     $ (10,629 )   $ 29,977  

 

December 31, 2020   Useful Lives (In Years)   Gross Carrying Amount     Accumulated Amortization     Net
Carrying Amount
 
Amortized:                            
Customer relationships   9-12   $ 19,264     $ (2,732 )   $ 16,532  
Trademark and tradename   3-15     7,553       (1,292 )     6,261  
Patents   7-11     2,117       (1,661 )     456  
Technology   7     10,911       (3,172 )     7,739  
Favorable contract interest   4     388       (331 )     57  
Covenant not to compete   5     208       (142 )     66  
          40,441       (9,330 )     31,111  
                             
Unamortized:                            
Customer List         104       -       104  
Trademark and tradename         61       -       61  
                             
          165       -       165  
                             
Total       $ 40,606     $ (9,330 )   $ 31,276  

Schedule of Finite-lived Intangible Assets, Future Amortization Expense

Amortization expense for the three-month periods ended March 31, 2020 and March 31, 2021 was $1,332 and $1,299, respectively. Estimated future amortization expense for each of the five succeeding fiscal years for these intangible assets is as follows:

 

Year ending December 31:      
2021 (remaining)   $ 3,855  
2022     5,080  
2023     5,035  
2024     2,622  
2025     2,495  
2026     2,413  
Thereafter     8,312  
    $ 29,812