Note 7 - Goodwill and Intangible Assets

6 Months Ended

Jun. 30, 2020

Notes to Financial Statements

Goodwill and Intangible Assets Disclosure [Text Block]

7. GOODWILL AND INTANGIBLE ASSETS

Goodwill

The following table presents a reconciliation of the beginning and ending balances of goodwill (in thousands):

	Infrastructure Solutions			Corrosion Protection			Energy Services			Total
Balance, December 31, 2019
Goodwill, gross	$	240,160		$	76,946		$	81,504		$	398,610
Accumulated impairment losses		(62,848	)		(45,400	)		(33,527	)		(141,775	)
Goodwill, net		177,312			31,546			47,977			256,835
2020 Activity:
Impairment (1)		—			—			(1,258	)		(1,258	)
Foreign currency translation		(436	)		(387	)		—			(823	)
Balance, June 30, 2020
Goodwill, gross		239,724			76,559			81,504			397,787
Accumulated impairment losses		(62,848	)		(45,400	)		(34,785	)		(143,033	)
Goodwill, net	$	176,876		$	31,159		$	46,719		$	254,754

⁽¹⁾ During the second quarter of 2020, the Company recorded a $1.3 million goodwill impairment related to restructuring activities within Energy Services (see Note 4).

Intangible Assets

Intangible assets consisted of the following (in thousands):

	June 30, 2020								December 31, 2019
	Weighted Average Useful Lives (Years)	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount
License agreements	0.2	$	3,894	$	(3,871	)	$	23	$	3,894	$	(3,824	)	$	70
Leases	0.5		864		(820	)		44		864		(777	)		87
Trademarks (1)	9.2		15,437		(7,261	)		8,176		15,699		(6,911	)		8,788
Non-competes	2.9		2,048		(1,391	)		657		2,301		(1,354	)		947
Customer relationships (1)	6.9		156,817		(81,931	)		74,886		157,576		(76,832	)		80,744
Patents and acquired technology	7.3		38,728		(25,371	)		13,357		39,289		(25,097	)		14,192
Total intangible assets	—	$	217,788	$	(120,645	)	$	97,143	$	219,623	$	(114,795	)	$	104,828

⁽¹⁾ During the second quarter of 2020, the Company recorded intangible asset impairments related to restructuring activities within Energy Services of $0.3 million for trademarks and $0.7 million for customer relationships (see Note 4).

Amortization expense was $3.4 million and $3.4 million for the quarters ended June 30, 2020 and 2019, respectively, and $6.8 million and $6.9 million for the six months ended June 30, 2020 and 2019, respectively. Estimated amortization expense for the years ended December 31, 2020, 2021, 2022, 2023 and 2024 is $13.0 million, $12.9 million, $12.9 million, $12.9 million and $12.1 million, respectively.