GOODWILL AND INTANGIBLE ASSETS

12 Months Ended

Dec. 31, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

GOODWILL AND INTANGIBLE ASSETS

GOODWILL AND INTANGIBLE ASSETS

Goodwill

The Company recorded goodwill of $2,088 on October 1, 2020 in connection with its acquisition of Coit Staffing Inc. (see Note 4 for further information). Prior to this acquisition the Company had no goodwill. The Goodwill was acquired on the same date of our annual impairment testing and the Company concluded goodwill was not impaired.

	Carrying Value
Goodwill, January 1, 2020	$	—
Acquisition	2,088
Currency translation	—
Goodwill, December 31, 2020	$	2,088

Intangible Assets

In connection with the Coit acquisition, as of December 31, 2020, the Company’s Intangible assets consisted of the following components:

	Average Remaining Amortization Useful Lives (in years)	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Non-compete agreements	1.75	$	80	$	(10)	$	70
Trade name	4.75	400		(20)		380
Customer lists	4.75	1,000		(50)		950
		$	1,480	$	(80)	$	1,400

Intangible assets are amortized on a straight-line basis over their estimated useful lives. Non-compete are amortized over 2 years and Trade names and Customer lists are amortized over 5 years. Amortization expense for the year ended December 31, 2020 was $80. No impairment in the value of amortizing or non-amortizing intangible assets was recognized during the year ended December 31, 2020.

Estimated future amortization expense of intangible assets for each of the next five fiscal years are as follows:

2021	$	320
2022	310
2023	280
2024	280
2025	210
	$	1,400