Intangible Assets and Goodwill

3 Months Ended

Mar. 31, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets and Goodwill

Intangible Assets and Goodwill

Intangible assets on March 31, 2022 and December 31, 2021 consisted of the following ($ in thousands):

	March 31, 2022		December 31, 2021
Customer relationships	$	7,400	$	7,400
Trade names	8,500		8,500
Leasehold rights	100		100
	16,000		16,000
Less: accumulated amortization	(11,608)		(11,502)
Intangible assets, net	$	4,392	$	4,498

The Company tests for goodwill impairment annually on October 1 of each year and between annual tests if a triggering event indicates the possibility of impairment. With the signing of the Merger, the Company evaluates goodwill for impairment having regard to the Merger transaction value. Goodwill acquired in business combinations, net of disposals was $120.2 million on March 31, 2022 and December 31, 2021, respectively. See Note 1, "Organization and Description of Business" for discussions on the Merger. There were no triggering events that indicated impairment for the quarter ended March 31, 2022.