(

)

GOODWILL AND INTANGIBLE ASSETS

Goodwill and intangible assets on our balance sheets are the result of our acquisitions of Sigma Systems Corp. ("Sigma") in

October 2008,

Thermonics, Inc. ("Thermonics") in

January 2012

and Ambrell in

May 2017.

All of our goodwill and intangible assets are allocated to our Thermal segment. Goodwill totaled

$13,738

at each of

September

30,

2019

and

December

31,

2018.

Intangible Assets

Changes in the amount of the carrying value of finite-lived intangible assets for the

nine

months ended

September

30,

2019

are as follows:

Balance - January 1, 2019	$	8,201
Amortization		(944	)
Balance - September 30, 2019	$	7,257

The following tables provide further detail about our intangible assets as of

September 30, 2019

and

December 31, 2018:

	September 30, 2019
	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Finite-lived intangible assets:
Customer relationships	$	10,480	$	3,532	$	6,948
Technology		600		350		250
Patents		590		531		59
Software		270		270		-
Trade name		140		140		-
Total finite-lived intangible assets		12,080		4,823		7,257
Indefinite-lived intangible assets:
Trademarks		6,710		-		6,710
Total intangible assets	$	18,790	$	4,823	$	13,967

	December 31, 2018
	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Finite-lived intangible assets:
Customer relationships	$	10,480	$	2,717	$	7,763
Technology		600		250		350
Patents		590		502		88
Software		270		270		-
Trade name		140		140		-
Customer backlog		500		500		-
Total finite-lived intangible assets		12,580		4,379		8,201
Indefinite-lived intangible assets:
Trademarks		6,710		-		6,710
Total intangible assets	$	19,290	$	4,379	$	14,911

We generally amortize our finite-lived intangible assets over their estimated useful lives on a straight-line basis, unless an alternate amortization method can be reliably determined. Any such alternate amortization method would be based on the pattern in which the economic benefits of the intangible asset are expected to be consumed.

None

of our intangible assets have any residual value.

Total amortization expense for our finite-lived intangible assets was

$312

and

$944

for the

three

and

nine

months ended

September 30, 2019,

respectively, and

$323

and

$786

for the

three

and

nine

months ended

September 30, 2018,

respectively. The following table sets forth the estimated annual amortization expense for each of the next

five

years:

2019 (remainder)	$	313
2020	$	1,233
2021	$	1,227
2022	$	1,167
2023	$	1,067