Quarterly report pursuant to Section 13 or 15(d)

Goodwill and Other Intangible Assets

v3.21.2
Goodwill and Other Intangible Assets
6 Months Ended
Jun. 30, 2021
Goodwill and Other Intangible Assets  
Goodwill and Other Intangible Assets

7.            Goodwill and Other Intangible Assets:

​

The following table summarizes the changes in the carrying amount of goodwill for the six months ended June 30, 2021:

​

​

​

​

​

Balance at January 1, 2021

​

$

16,816

Translation adjustments

​

​

750

Balance June 30, 2021

​

$

17,566

​

Goodwill acquired through our acquisition of CDF is provisional for a period of up to one year from the acquisition date.

​

Information related to the Company’s other intangibles, net is as follows:

​

​

​

​

​

​

​

​

​

​

​

​

​

As of June 30, 2021

​

​

Gross Carrying Amount

​

Accumulated Amortization

​

Net Carrying Amount

Customer and vendor relationships

​

$

10,768

​

$

691

​

$

10,077

Trade name

​

​

531

​

​

23

​

​

508

Non-compete

​

​

53

​

​

38

​

​

15

Total

​

$

11,352

​

$

752

​

$

10,600

​

​

​

​

​

​

​

​

​

​

​

​

As of December 31, 2020

​

​

Gross Carrying Amount

​

Accumulated Amortization

​

Net Carrying Amount

Customer and vendor relationships

​

$

10,361

​

$

272

​

$

10,089

Trade name

​

​

504

​

​

5

​

​

499

Non-compete

​

​

50

​

​

13

​

​

37

Total

​

$

10,915

​

$

290

​

$

10,625

​

Customer relationships are amortized over thirteen years. Vendor relationships are amortized between eleven and fifteen years. Trade name is amortized over fifteen years. Non-compete is amortized over one year. Intangible assets acquired through our acquisition of CDF are provisional for a period of up to one year from the acquisition date.

​

During the three months ended June 30, 2021 and 2020, the Company recognized total amortization expense for other intangibles, net of $0.2 million and $0.1 million, respectively. During the six months ended June 30, 2021 and 2020, the Company recognized total amortization expense for other intangibles, net of $0.5 million and $0.1 million, respectively.

​

Estimated future amortization expense of the Company’s other intangibles, net as of June 30, 2021 is as follows:

​

​

​

​

​

2021 (excluding the six months ended June 30, 2021)

    

$

436

2022

​

 

842

2023

​

 

842

2024

​

 

842

2025

​

 

842

Thereafter

​

 

6,796

Total

​

$

10,600

​