Goodwill and Intangible Assets

3 Months Ended

Mar. 31, 2022

Goodwill and Intangible Assets [Abstract]

Goodwill and Intangible Assets

Note 6 - Goodwill and Intangible Assets

The Company monitors operating results and events and circumstances that may indicate potential impairment of intangible assets. Management concluded that there were no triggering events that occurred during the three months ended March 31, 2022 and 2021.

The following table shows the gross carrying amount and accumulated amortization of definite-lived intangible assets:

(in thousands)	As of March 31, 2022
	Gross Carrying Amount		Accumulated Amortization			Net
Amortized intangible assets:
Customer relationships	$	8,628	$	(6,622	)	$	2,006
Trade names		1,689		(1,130	)		559
Developed technology		471		(471	)		-
Non-contractual customer relationships		433		(433	)		-
Noncompete agreement		527		(451	)		76
Alliance agreement		527		(408	)		119
Others		167		(167	)		-
Total	$	12,442	$	(9,682	)	$	2,760

(in thousands)	As of December 31, 2021
	Gross Carrying Amount		Accumulated Amortization			Net
Amortized intangible assets:
Customer relationships	$	8,628	$	(6,432	)	$	2,196
Trade names		1,689		(1,108	)		581
Developed technology		471		(471	)		-
Non-contractual customer relationships		433		(433	)		-
Noncompete agreement		527		(429	)		98
Alliance agreement		527		(382	)		145
Others		167		(167	)		-
Total	$	12,442	$	(9,422	)	$	3,020

Amortization expense related to definite-lived intangible assets totaled $0.3 million and $0.3 million for the three months ended March 31, 2022 and 2021, respectively. The following table shows the estimated amortization expense of the definite-lived intangible assets for the next five years and thereafter:

(in thousands)
Years ended December 31:
2022 remainder	$	649
2023		640
2024		435
2025		335
2026		266
Thereafter		435
Total	$	2,760