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Goodwill and Intangible Assets (Tables)
12 Months Ended
Dec. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]  
The change in goodwill

The changes in the carrying amount of goodwill for the years ended December 31, 2021 and 2020 were as follows:

 

 

 

Distribution

 

 

Material
Handling

 

 

Total

 

January 1, 2020

 

$

7,716

 

 

$

59,058

 

 

$

66,774

 

Acquisition

 

 

 

 

 

12,312

 

 

 

12,312

 

Purchase accounting adjustment

 

 

(68

)

 

 

 

 

 

(68

)

Foreign currency translation

 

 

 

 

 

238

 

 

 

238

 

December 31, 2020

 

$

7,648

 

 

$

71,608

 

 

$

79,256

 

Acquisition

 

 

 

 

 

10,003

 

 

 

10,003

 

Purchase accounting adjustment

 

 

 

 

 

(520

)

 

 

(520

)

Foreign currency translation

 

 

 

 

 

39

 

 

 

39

 

December 31, 2021

 

$

7,648

 

 

$

81,130

 

 

$

88,778

 

Intangible assets

Intangible assets at December 31, 2021 and 2020 consisted of the following:

 

 

 

 

 

 

2021

 

 

2020

 

 

 

Weighted Average
Remaining Useful
Life (years)

 

 

Gross

 

 

Accumulated
Amortization

 

 

Net

 

 

Gross

 

 

Accumulated
Amortization

 

 

Net

 

Trade names - indefinite lived

 

 

 

 

$

9,782

 

 

$

 

 

$

9,782

 

 

$

9,782

 

 

$

 

 

$

9,782

 

Trade names

 

 

8.6

 

 

 

8,267

 

 

 

(1,035

 )

 

 

7,232

 

 

 

6,397

 

 

 

(270

)

 

 

6,127

 

Customer relationships

 

 

14.3

 

 

 

70,794

 

 

 

(44,221

)

 

 

26,573

 

 

 

58,266

 

 

 

(42,243

)

 

 

16,023

 

Technology

 

 

2.6

 

 

 

24,980

 

 

 

(19,169

)

 

 

5,811

 

 

 

24,980

 

 

 

(16,897

)

 

 

8,083

 

Non-competition agreements

 

 

3.3

 

 

 

1,200

 

 

 

(417

)

 

 

783

 

 

 

1,200

 

 

 

(177

)

 

 

1,023

 

Patents

 

 

 

 

 

11,730

 

 

 

(11,730

)

 

 

 

 

 

11,730

 

 

 

(11,730

)

 

 

 

 

 

 

 

 

$

126,753

 

 

$

(76,572

)

 

$

50,181

 

 

$

112,355

 

 

$

(71,317

)

 

$

41,038