| Goodwill and Other Identifiable Intangible Assets |
4. Goodwill and other identifiable intangible assets
Goodwill
The changes in the carrying amount of goodwill for the years ended December 31, 2019 and 2018 were as follows:
|
(amounts in thousands)
|
|
|
|
|
|
Balance as of December 31, 2017
|
|
$
|
2,363
|
|
|
Translation adjustment
|
|
|
(106
|
)
|
|
Balance as of December 31, 2018
|
|
$
|
2,257
|
|
|
Translation adjustment
|
|
|
(45
|
)
|
|
Acquisition
|
|
|
30,742
|
|
|
Balance as of December 31, 2019
|
|
$
|
32,954
|
|
Intangible assets
There were no impairments recorded related to the Company’s intangible assets as of December 31, 2019 and 2018. Amortization expense for intangible assets for the years ended December 31, 2019, 2018 and 2017 was $4,160, $1,265 and $507, respectively.
The following tables represent the changes in net carrying values of the intangibles as of the respective dates:
|
|
|
Average
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
estimated
|
|
Gross
|
|
|
|
|
|
|
|
|
|
|
(amounts in thousands)
|
|
useful lives
|
|
carrying
|
|
|
Accumulated
|
|
|
|
|
|
|
December 31, 2019
|
|
(in years)
|
|
amount
|
|
|
amortization
|
|
|
Net amount
|
|
|
Technology
|
|
10
|
|
$
|
77,700
|
|
|
$
|
2,914
|
|
|
$
|
74,786
|
|
|
Licenses
|
|
10
|
|
|
185
|
|
|
|
165
|
|
|
|
20
|
|
|
Patents and websites
|
|
5
|
|
|
4,274
|
|
|
|
2,308
|
|
|
|
1,966
|
|
|
Customer relationships
|
|
4
|
|
|
1,346
|
|
|
|
897
|
|
|
|
449
|
|
|
Commercials
|
|
2-3
|
|
|
777
|
|
|
|
465
|
|
|
|
312
|
|
|
Total
|
|
|
|
$
|
84,282
|
|
|
$
|
6,749
|
|
|
$
|
77,533
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Average
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
estimated
|
|
Gross
|
|
|
|
|
|
|
|
|
|
|
(amounts in thousands)
|
|
useful lives
|
|
carrying
|
|
|
Accumulated
|
|
|
|
|
|
|
December 31, 2018
|
|
(in years)
|
|
amount
|
|
|
amortization
|
|
|
Net amount
|
|
|
Licenses
|
|
10
|
|
$
|
185
|
|
|
$
|
155
|
|
|
$
|
30
|
|
|
Patents and websites
|
|
5
|
|
|
4,164
|
|
|
|
1,640
|
|
|
|
2,524
|
|
|
Customer relationships
|
|
4
|
|
|
1,373
|
|
|
|
572
|
|
|
|
801
|
|
|
Non-compete agreement
|
|
2.3
|
|
|
229
|
|
|
|
154
|
|
|
|
75
|
|
|
Commercials
|
|
2-3
|
|
|
633
|
|
|
|
308
|
|
|
|
325
|
|
|
Total
|
|
|
|
$
|
6,584
|
|
|
$
|
2,829
|
|
|
$
|
3,755
|
|
Annual estimated amortization expense for each of the succeeding fiscal years is as follows:
|
|
|
December 31,
|
|
|
(amounts in thousands)
|
|
2019
|
|
|
2020
|
|
$
|
8,970
|
|
|
2021
|
|
|
8,680
|
|
|
2022
|
|
|
8,367
|
|
|
2023
|
|
|
7,792
|
|
|
2024
|
|
|
7,788
|
|
|
Thereafter
|
|
|
35,936
|
|
|
Total
|
|
$
|
77,533
|
|
|