Note 5 - Goodwill and Other Intangible Assets

9 Months Ended

Sep. 30, 2021

Notes to Financial Statements

Goodwill and Intangible Assets Disclosure [Text Block]

5. Goodwill and Other Intangible Assets

 There was no change to goodwill during the nine months ended September 30, 2021. Other intangible assets consist of the following:

	September 30, 2021						December 31, 2020
	Gross				Net		Gross				Net
	Carrying		Accumulated		Carrying		Carrying		Accumulated		Carrying
	Value		Amortization		Value		Value		Amortization		Value
	(in thousands)
Product technology and intellectual property	$	29,951	$	10,167	$	19,784	$	29,951	$	7,947	$	22,004
Trademarks, tradenames and licenses		4,000		1,398		2,602		4,000		1,094		2,906
Customer relationships		38,525		7,352		31,173		38,525		5,424		33,101
Other intangible assets		1,767		1,096		671		1,767		873		894
Total identifiable intangible assets	$	74,243	$	20,013	$	54,230	$	74,243	$	15,338	$	58,905

These intangible assets are being amortized over their useful lives ranging from two to 16 years. The weighted-average amortization period for these intangibles as of September 30, 2021 is 12.1 years. Amortization expense is included in general and administrative expense and was as follows for the periods indicated.

	Three months ended September 30,				Nine months ended September 30,
	2021		2020		2021		2020
	(in thousands)				(in thousands)
Amortization expense	$	1,547	$	1,681	$	4,675	$	3,409

We estimate that amortization expense for the remainder of 2021 and for each of the five succeeding fiscal years will be as follows:

			Year ended December 31,
	2021		2022		2023		2024		2025		2026
	(in thousands)
Amortization expense	$	1,505	$	5,975	$	5,902	$	5,706	$	5,467	$	5,001