Intangible Assets

12 Months Ended

Dec. 31, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets

INTANGIBLE ASSETS

The Company performed its annual goodwill impairment test during the third quarter of 2022. The Company performed a qualitative assessment of each reporting unit and determined that it was not more-likely-than-not that the fair value of any reporting unit was less than its carrying amount. As a result, no impairments of goodwill were recognized in 2022 and 2021.

The Company also performed its annual indefinite-lived intangible asset impairment test during the third quarter of 2022. The Company performed a qualitative assessment of the indefinite-lived intangible assets and determined that it was not more-likely-than-not that the fair value of any indefinite-lived intangible asset was less than the carrying amount. As a result, no impairments of indefinite-lived intangible assets were recognized in 2022 and 2021.

The changes in the carrying amount of goodwill are as follows:

	December 31, 2022		January 1, 2022
Balance at beginning of year:
Gross goodwill	$	17,668	$	17,367
Goodwill as of beginning of year	17,668		17,367
Goodwill acquired during the year	582		—
Currency translation adjustment	(882)		301
Balance as of end of year
Gross goodwill	17,368		17,668
Goodwill as of end of year	$	17,368	$	17,668

Intangible assets consist of the following:

	As of December 31, 2022
	Gross carrying amount		Accumulated  amortization		Net carrying amount		Weighted-average amortization period (years)
Amortized intangible assets
Trade name and trademarks	$	2,285	$	(114)	$	2,171	10
Product formulas	8,701		(7,983)		718		8
Customer relationships	3,313		(414)		2,899		4
Non-compete agreements	467		(61)		406		4
Indefinite-lived intangible assets
Direct sales license	26,238				26,238
	$	41,004			$	32,432

Estimated Amortization Expense:
2023	$	1,843
2024	1,224
2025	1,154
2026	692
2027	253
Thereafter	1,028
	$	6,194

	As of January 1, 2022
	Gross carrying amount		Accumulated amortization		Net carrying amount		Weighted-average amortization period (years)
Amortized intangible assets
Trade name and trademarks	$	4,173	$	(4,173)	$	—	10
Product formulas	9,440		(7,462)		1,978		8
Indefinite-lived intangible assets
Direct sales license	28,464				28,464
	$	42,077			$	30,442

Aggregate amortization of intangible assets was $1,723, $1,182, and $1,326 for the years ended 2022, 2021, and 2020, respectively.