Goodwill and Other Intangible Assets

12 Months Ended

Dec. 31, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Other Intangible Assets

NOTE 7 – GOODWILL AND OTHER INTANGIBLE ASSETS

The Company acquired intangible assets as part of the IQS acquisition during the year ended December 31, 2019 as discussed in Note 4. The Company recorded $518 of goodwill from this acquisition.

Information regarding purchased intangible assets as of December 31, 2020 is as follows:

	Gross Value		Accumulated Amortization		Net Carrying Value
Trade name	$	199	$	22	$	177
Customer relationships		41		15		26
Total	$	240	$	37	$	203

Information regarding purchased intangible assets as of December 31, 2019 is as follows:

	Gross Value		Accumulated Amortization		Net Carrying Value
Trade name	$	199	$	2	$	197
Customer relationships		41		1		40
Total	$	240	$	3	$	237

Trade name and customer relationships are amortized over 10 and 3 years, respectively. Amortization expense relating to purchased intangible assets was $33 and $3, for the years ended December 31, 2020 and 2019, respectively.

Estimated future amortization expense for the next five years and thereafter is as follows:

Years Ending December 31:
2021	$	34
2022		32
2023		20
2024		20
2025		20
Thereafter		77
Total	$	203