Quarterly report pursuant to Section 13 or 15(d)

Goodwill and Other Intangible Assets

v3.21.2
Goodwill and Other Intangible Assets
9 Months Ended
Sep. 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 nine months ended September 30, 2021:

​

​

​

​

​

Balance at January 1, 2021

​

$

16,816

Translation adjustments

​

​

317

Balance September 30, 2021

​

$

17,133

​

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

​

​

​

​

​

​

​

​

​

​

​

​

​

As of September 30, 2021

​

​

Gross Carrying Amount

​

Accumulated Amortization

​

Net Carrying Amount

Customer and vendor relationships

​

$

10,522

​

$

876

​

$

9,646

Trade name

​

​

517

​

​

31

​

​

486

Non-compete

​

​

52

​

​

48

​

​

4

Total

​

$

11,091

​

$

955

​

$

10,136

​

​

​

​

​

​

​

​

​

​

​

​

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.

​

During the three months ended September 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 nine months ended September 30, 2021 and 2020, the Company recognized total amortization expense for other intangibles, net of $0.7 million and $0.1 million, respectively.

​

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

​

​

​

​

​

2021 (excluding the nine months ended September 30, 2021)

    

$

209

2022

​

 

820

2023

​

 

820

2024

​

 

820

2025

​

 

820

Thereafter

​

 

6,647

Total

​

$

10,136

​