Selected Balance Sheet Data

3 Months Ended

Mar. 31, 2021

Selected Balance Sheet Data [Abstract]

Selected Balance Sheet Data

7. Selected Balance Sheet Data

Inventories:

Inventories consisted of the following at:

		Raw materials		Work-in process		Finished products and components		Total
March 31, 2021
Domestic	$	12,256	$	1,191	$	2,138	$	15,585
Foreign		3,396		1,239		116		4,751
Total	$	15,652	$	2,430	$	2,254	$	20,336
December 31, 2020
Domestic	$	11,371	$	1,499	$	2,149	$	15,019
Foreign		3,393		968		133		4,494
Total	$	14,764	$	2,467	$	2,282	$	19,513

Property, Plant and Equipment Geographic Information:

The geographical distribution of long-lived assets, consisting of property, plant and equipment is set forth below:

		March 31,		December 31,
		2021		2020
United States	$	12,537	$	12,539
Singapore		1,454		1,460
Other		170		178
Consolidated	$	14,161	$	14,177

Long-lived assets consist of property, plant and equipment. Excluded from long-lived assets are investments in partnerships, patents, goodwill, intangible assets, operating lease right-of-use (ROU) assets and certain other assets. The Company capitalizes long-lived assets pertaining to the production of specialized parts. These assets are periodically reviewed to ensure the net realizable value from the estimated future production based on forecasted cash flows exceeds the carrying value of the assets.

Goodwill:

During the period ended March 31, 2021, the Company recorded certain purchase accounting adjustments for the EMS business combination resulting in an adjustment to goodwill. The changes to the carrying amount of goodwill for the periods presented are as follows:

Carrying amount at December 31, 2020	$	13,714
Purchase accounting adjustment		90
Carrying amount at March 31, 2021	$	13,804

Intangible Assets:

Definite-lived intangible assets consisted of the following at:

		March 31, 2021
		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Customer list	$	6,400	$	(667)	$	5,733
Technology intangibles		6,725		(2,170)		4,555
Total	$	13,125	$	(2,837)	$	10,288
		December 31, 2020
		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Customer list	$	6,400	$	(467)	$	5,933
Technology intangibles		6,725		(1,873)		4,852
Total	$	13,125	$	(2,340)	$	10,785

The customer list was established as a part of purchase accounting related to our Emerald acquisition; see Note 6. The estimated useful life is eight years.

The technology intangibles provide the Company with wireless and self-fitting hearing aid technology and are being amortized based on an estimated useful life between five and seven years.

Investment in Partnerships:

Investment in partnerships consisted of the following:

		March 31,		December 31,
		2021		2020
Investment in Signison	$	358	$	418
Other		242		152
Total	$	600	$	570

The Company has a 50% ownership interest in Signison, a German based Company specializing in hearing health services. This is accounted for in the Company’s consolidated condensed financial statements using the equity method for all periods presented.

Other Accrued Liabilities:

Other accrued liabilities consisted of the following at:

		March 31, ‎2021		December 31, ‎2020
Pension and postretirement benefit obligations	$	188	$	188
Deferred revenue		224		184
Current technology intangible liability		996		1,006
Current earn-out contingent consideration liability		1,060		1,090
Customer funded projects		776		759
Other		1,053		1,008
Total	$	4,297	$	4,235

The technology intangible liability, reflected above, relates to amounts owed in relation to the Company’s wireless and self-fitting hearing aid technologies.

The earn-out liability is contingent on certain future events and is measured at fair value based on various level 3 inputs and assumptions including forecasts, probabilities of payment and discount rates. Amounts are classified as current if expected to be paid within the next twelve months. The liability for contingent consideration is subject to fair value adjustments each reporting period that will be recognized through the Consolidated Condensed Statement of Operations. See Note 6.

Other Long-Term Liabilities:

Other long-term liabilities consisted of the following at:

		March 31,		December 31,
		2021		2020
Noncurrent technology intangible liability	$	710	$	1,039
Noncurrent earn-out contingent consideration liability		2,549		2,484
Other		880		875
Total	$	4,139	$	4,398

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As of March 31, 2021, the Company had no debt under its existing credit facilities and was in compliance with all applicable covenants.