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Goodwill and Intangible Assets (Tables)
12 Months Ended
Dec. 31, 2021
Goodwill And Intangible Assets Disclosure [Abstract]  
Summary of Intangible Assets

The following tables summarize the Company’s intangible assets (dollars in thousands):

 

 

 

December 31, 2021

 

 

 

Weighted
average
amortization
period in
years

 

 

Gross
carrying
amount

 

 

Accumulated
amortization

 

 

Net
carrying
amount

 

 

 

 

 

Intangible Assets

 

 

 

 

 

 

 

 

 

 

 

 

Amortizing intangible assets:

 

 

 

 

 

 

 

 

 

 

 

 

Customer Relationships

 

 

15

 

 

$

37,139

 

 

$

674

 

 

$

36,465

 

Trade Names

 

 

9

 

 

 

973

 

 

 

147

 

 

 

826

 

Developed Technology

 

 

4

 

 

 

1,502

 

 

 

605

 

 

 

897

 

Vendor Relationships

 

 

15

 

 

 

1,404

 

 

 

226

 

 

 

1,178

 

Database

 

 

5

 

 

 

2,400

 

 

 

30

 

 

 

2,370

 

Total intangible assets

 

 

 

 

$

43,418

 

 

$

1,682

 

 

$

41,736

 

 

 

 

December 31, 2020

 

 

 

Weighted
average
amortization
period in
years

 

 

Gross
carrying
amount

 

 

Accumulated
amortization

 

 

Net
carrying
amount

 

Intangible Assets

 

 

 

 

 

 

 

 

 

 

 

 

Amortizing intangible assets:

 

 

 

 

 

 

 

 

 

 

 

 

Non Compete

 

 

2

 

 

$

106

 

 

$

106

 

 

$

 

Customer Relationships

 

 

1

 

 

 

539

 

 

 

512

 

 

 

27

 

Trade Names

 

 

6

 

 

 

173

 

 

 

141

 

 

 

32

 

Developed Technology

 

 

3

 

 

 

762

 

 

 

438

 

 

 

324

 

Vendor Relationships

 

 

15

 

 

 

1,404

 

 

 

135

 

 

 

1,269

 

Total intangible assets

 

 

 

 

$

2,984

 

 

$

1,332

 

 

$

1,652

 

Schedule of Carrying Amount of Goodwill

The following tables provides a roll forward of the carrying amount of goodwill (in thousands):

 

 

 

 

 

 

 

 

 

 

2021

 

 

2020

 

 

 

 

 

 

 

 

Balance as of January 1:

 

 

 

 

 

 

Gross goodwill

 

$

3,907

 

 

$

3,907

 

Accumulated impairments

 

 

(3,074

)

 

 

(1,719

)

Net goodwill as of January 1,

 

 

833

 

 

 

2,188

 

Goodwill acquired during the year

 

 

253,839

 

 

 

 

Impact of foreign exchange

 

 

 

 

 

154

 

Impairment expense

 

 

 

 

 

(1,509

)

Net goodwill as of December 31,

 

$

254,672

 

 

$

833

 

Schedule of Amortization Expense

Amortization expense for the year ended December 31, 2021, 2020 and 2019 was as follows (in thousands):

 

 

 

Year Ended December 31,

 

 

 

2021

 

 

2020

 

 

2019

 

Sales and marketing

 

$

289

 

 

 

642

 

 

$

157

 

Operations and support

 

 

 

 

 

3

 

 

 

 

Product development

 

 

166

 

 

 

177

 

 

 

128

 

General and administrative

 

 

9

 

 

 

11

 

 

 

16

 

Total

 

$

464

 

 

$

833

 

 

$

301