Schedule of Intangible Assets |
The following table summarizes identifiable
intangible assets of the Company as of December 31, 2020 and 2019:
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 |
|
December 31, 2019 |
|
Useful
Lives (In Years)
|
|
|
Gross Carrying Amount |
|
|
Accumulated Amortization |
|
|
Net Carrying Amount |
|
Amortized: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Customer relationships |
|
|
9-12 |
|
|
$ |
19,299 |
|
|
$ |
(1,108 |
) |
|
$ |
18,191 |
|
Trademark and tradename |
|
|
3-15 |
|
|
|
7,553 |
|
|
|
(488 |
) |
|
|
7,065 |
|
Patents |
|
|
7-11 |
|
|
|
2,117 |
|
|
|
(1,436 |
) |
|
|
681 |
|
Technology |
|
|
7 |
|
|
|
10,911 |
|
|
|
(634 |
) |
|
|
10,277 |
|
Favorable contract interest |
|
|
4 |
|
|
|
388 |
|
|
|
(234 |
) |
|
|
154 |
|
Covenant not to compete |
|
|
5 |
|
|
|
208 |
|
|
|
(102 |
) |
|
|
106 |
|
|
|
|
|
|
|
|
40,476 |
|
|
|
(4,002 |
) |
|
|
36,474 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Unamortized: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Customer List |
|
|
|
|
|
|
104 |
|
|
|
- |
|
|
|
104 |
|
Trademark and tradename |
|
|
|
|
|
|
61 |
|
|
|
- |
|
|
|
61 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
165 |
|
|
|
- |
|
|
|
165 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total |
|
|
|
|
|
$ |
40,641 |
|
|
$ |
(4,002 |
) |
|
$ |
36,639 |
|
|
Schedule of Finite-lived Intangible Assets, Future Amortization Expense |
Amortization expense for
the years ended December 31, 2018, 2019 and 2020 was $712, $1,967 and $5,328, 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 |
|
$ |
5,153 |
|
2022 |
|
|
5,080 |
|
2023 |
|
|
5,035 |
|
2024 |
|
|
2,622 |
|
2025 |
|
|
2,495 |
|
Thereafter |
|
|
10,726 |
|
|
|
$ |
31,111 |
|
|
Schedule of Changes in Goodwill |
The change in goodwill from January 1, 2019
to December 31, 2020 is as follows:
Balance as of January 1, 2019 |
|
$ |
7,318 |
|
CarrierWeb acquisition |
|
|
3,108 |
|
Pointer acquisition |
|
|
78,642 |
|
Balance as of December 31, 2019 |
|
|
89,068 |
|
Measurement period adjustment (a) |
|
|
(5,724 |
) |
|
|
|
|
|
Balance as of December 31, 2020 |
|
|
83,344 |
|
|
a) |
After considering all information related to the finalization of income taxes the Company reduced certain provisionally recorded deferred tax liabilities due to the new information with a corresponding decrease in the Pointer acquisition goodwill. |
|