Note 12 - Goodwill and Other Intangible Assets

9 Months Ended

Sep. 30, 2022

Notes to Financial Statements

Intangible Assets Disclosure [Text Block]

(12) Goodwill and Other Intangible Assets

The changes in the carrying amount of goodwill for the nine months ended September 30, 2022 are as follows (in thousands):

	Goodwill
December 31, 2021	$	107,905
Acquired in Advant Medical business combination (See Note 2)		7,140
DAS working capital adjustment		196
Sale of Molded Fiber		(1,778	)
Foreign currency translation		(806	)
September 30, 2022	$	112,657

The carrying values of the Company’s definite lived intangible assets as of September 30, 2022 are as follows (in thousands):

	Intellectual Property / Tradename & Brand			Non- Compete			Customer List			Total
Weighted-average amortization period (years)		11.9			9.3			20
Gross amount	$	6,881		$	5,474		$	64,922		$	77,277
Accumulated amortization		(570	)		(822	)		(6,844	)		(8,236	)
Net balance	$	6,311		$	4,652		$	58,078		$	69,041

Amortization expense related to intangible assets was approximately $1.1 million and $314 thousand, respectively, for the three-month periods ended September 30, 2022 and 2021, and was $3.3 million and $943 thousand, respectively, for the nine-month periods ended September 30, 2022 and 2021. The estimated remaining amortization expense as of September 30, 2022 is as follows (in thousands):

Remainder of 2022	$	1,123
2023		4,409
2024		4,401
2025		4,401
2026		4,398
Thereafter		50,309
Total	$	69,041