Note 7 - Intangible Assets and Goodwill

12 Months Ended

Dec. 31, 2022

Notes to Financial Statements

Goodwill and Intangible Assets Disclosure [Text Block]

NOTE 7. INTANGIBLE ASSETS AND GOODWILL

Intangible assets, excluding goodwill, consist of the following (in thousands).

			December 31, 2022						December 31, 2021
	Estimated Useful Life		Gross Carrying Value		Accumulated Amortization		Net Carrying Value		Gross Carrying Value		Accumulated Amortization		Net Carrying Value
Customer relationships		15	$	930	$	564	$	366	$	930	$	423	$	507
Trademarks		10		13		5		8		13		3		10
Non-compete agreement		5		22		16		6		22		12		10
Total intangible assets			$	965	$	585	$	380	$	965	$	438	$	527

The customer relationship intangible is amortizing over the 15-year period of expected future economic benefit, in proportion to the discounted expected future cash flows used to estimate the value of the intangible at acquisition in 2019. It is amortizing at a more rapid rate in the earlier periods than in later periods. Other finite-lived intangible assets are amortizing on a straight-line basis.

As of December 31, 2022, the weighted-average remaining amortization period for intangibles other than goodwill is 9.9 years and future intangible amortization is expected to total the following (in thousands):

2023	$	111
2024		80
2025		58
2026		42
2027		31
Thereafter		58
Total amortization	$	380

We performed our annual impairment testing of goodwill as of December 31, 2021. We estimated the fair value of our company by a discounted cash flow method, reconciled to our market capitalization.  We determined the fair value of our equity, based on our market capitalization, was substantially below our carrying value. As a result, in 2021, we recorded a non-cash, non-tax-deductible impairment charge equal to the entire amount of our goodwill, $3.9 million.