Note 5 - Goodwill and Other Intangible Assets

6 Months Ended

Jun. 30, 2024

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 six months ended June 30, 2024. Other intangible assets consist of the following:

	June 30, 2024						December 31, 2023
	Gross				Net		Gross				Net
	Carrying		Accumulated		Carrying		Carrying		Accumulated		Carrying
	Value		Amortization		Value		Value		Amortization		Value
	(in thousands)
Product technology and intellectual property	$	29,549	$	17,379	$	12,170	$	29,549	$	16,048	$	13,501
Trademarks, tradenames and licenses		3,767		2,085		1,682		3,767		1,909		1,858
Customer relationships		37,171		12,386		24,785		37,171		11,064		26,107
Other intangible assets		1,643		1,513		130		1,643		1,398		245
Total identifiable intangible assets	$	72,130	$	33,363	$	38,767	$	72,130	$	30,419	$	41,711

These assets are being amortized over useful lives ranging from 2 to 16 years. The weighted-average amortization period for these intangibles as of June 30, 2024 is 9.4 years. Amortization expense is included in general and administrative expense and is as follows:

	Three months ended June 30,				Six months ended June 30,
	2024		2023		2024		2023
	(in thousands)				(in thousands)
Amortization expense	$	1,472	$	1,509	$	2,944	$	3,068

Estimated amortization expense for the remainder of 2024 and for each of the next five fiscal years is as follows:

	Year ended December 31,
	2024		2025		2026		2027		2028		2029
	(in thousands)
Amortization expense	$	2,913	$	5,601	$	5,119	$	4,842	$	4,456	$	4,423