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Note 6 - Intangible Assets

3 Months Ended

Mar. 31, 2023

Intangible Assets Disclosure [Text Block]

NOTE 6 — INTANGIBLE ASSETS

Intangible assets represent the fair value assigned to definite-lived assets such as trade names and customer relationships as part of the Company’s acquisition of Brad Foote completed in 2007 as well as the noncompetition agreements, trade names and customer relationships that were part of the Company’s acquisition of Red Wolf Company, LLC completed in 2017. Intangible assets are amortized on a straight-line basis over their estimated useful lives, with a remaining life range from 0 to 5 years.

As of March 31, 2023 and December 31, 2022, the cost basis, accumulated amortization and net book value of intangible assets were as follows:

	*March 31, 2023*												*December 31, 2022*
											*Remaining*												*Remaining*
											*Weighted*												*Weighted*
						*Accumulated*			*Net*		*Average*							*Accumulated*			*Net*		*Average*
	*Cost*		*Accumulated*			*Impairment*			*Book*		*Amortization*				*Accumulated*			*Impairment*			*Book*		*Amortization*
	*Basis*		*Amortization*			*Charges*			*Value*		*Period*		*Cost*		*Amortization*			*Charges*			*Value*		*Period*
Intangible assets:
Noncompete agreements	$	170	$	(170	)	$	—		$	—		—	$	170	$	(167	)	$	—		$	3		0.1
Customer relationships		15,979		(7,646	)		(7,592	)		741		2.8		15,979		(7,581	)		(7,592	)		806		3.1
Trade names		9,099		(7,280	)		—			1,819		4.5		9,099		(7,180	)		—			1,919		4.8
Intangible assets	$	25,248	$	(15,096	)	$	(7,592	)	$	2,560		4.1	$	25,248	$	(14,928	)	$	(7,592	)	$	2,728		4.3

As of March 31, 2023, estimated future amortization expense was as follows:

2023	$	496
2024		661
2025		661
2026		422
2027		320
Total	$	2,560