As of December 31, 2023, the Company’s total Goodwill was $52.8 million, of which $13.8 million relates to the SSIMWAVE reporting unit, which was acquired on September 22, 2022, and $39.0 million relates to the Technology Products and Services reporting unit (December 31, 2022 — $39.0 million). (Refer to Note 4 for additional information related to the Company’s acquisition of SSIMWAVE).

The Company performed a qualitative impairment test as of the annual assessment date, September 30, 2023, to evaluate whether it is more likely than not that the fair value of its reporting units was less than their respective carrying amounts. Based on such assessment, the Company concluded, with respect to all reporting units other than SSIMWAVE, that it is not more likely than not that the fair value of any such reporting unit is less than its carrying value.

Accordingly, the Company performed the quantitative assessment of goodwill impairment for the SSIMWAVE reporting unit. Based on the quantitative assessment, the Company concluded that there is no impairment in the year ended December 31, 2023 and the fair value of the SSIMWAVE reporting unit exceeded its carrying value.

The Company’s significant assumptions, including revenue growth rates, discount rate and other factors may change in the future based on the changing economic and competitive environment in which it operates. Assuming that all other components of the Company’s fair value estimate remain unchanged, an increase of 100 basis points in discount rate decreases the goodwill headroom by $9.5 million, and a decrease of 10% in the revenue growth rate decreases the goodwill headroom by $24.5 million, without triggering impairment charges of goodwill.

In the year ended December 31, 2022, the Company performed a qualitative impairment test as of the annual assessment date, September 30, 2022, to evaluate whether it is more likely than not that the fair value of its reporting units was less than their respective carrying amounts. Based on its assessment, the Company concluded that it was not more likely than not that the fair value of a reporting unit is less than its carrying amount for all reporting units.


	As of December 31, 2023
			Accumulated		Net Book
(In thousands of U.S. Dollars)	Cost		Amortization		Value
Licenses and intellectual property	$	26,168	$	16,657	$	9,511
Internal use software		36,647		27,342		9,305
Developed technology		6,282		1,329		4,953
In process research and development		3,810		—		3,810
Patents and trademarks		12,389		9,530		2,859
Customer relationships		1,340		251		1,089
Marketing-related intangibles		4,338		952		3,386
Other		160		51		109
	$	91,134	$	56,112	$	35,022

	As of December 31, 2022
			Accumulated		Net Book
(In thousands of U.S. Dollars)	Cost		Amortization		Value
Licenses and intellectual property	$	26,168	$	15,232	$	10,936
Internal use software		30,454		25,413		5,041
Developed technology		5,821		267		5,554
In process research and development		3,810		—		3,810
Patents and trademarks		13,031		9,771		3,260
Customer relationships		1,340		50		1,290
Marketing-related intangibles		3,041		344		2,697
Other		160		10		150
	$	83,825	$	51,087	$	32,738

During 2023, the Company capitalized $8.2 million related to the development of internal use software, marketing-related intangibles, as well as additions in patents and trademarks and other intangible assets (2022 — $5.1 million). The weighted average amortization period for these additions is 4.3 years (2022 — 4.7 years). The net book value of the other intangible assets capitalized in 2023 was $8.1 million as of December 31, 2023 (2022 — $15.5 million). During 2022, the Company acquired $11.2 million of intangible assets through its acquisition of SSIMWAVE. (Refer to Note 4.)

During 2023, the Company incurred costs of $0.4 million to renew or extend the term of acquired patents and trademarks which were recorded in Selling, General and Administrative expenses (2022 — $0.4 million); 2021 — $0.1 million).

Fully amortized other intangible assets are still in use by the Company. In 2023, the Company identified and wrote off $1.0 million (2022 — $0.1 million; 2021—$0.1 million) of fully amortized patents and trademarks that are no longer in use.