Quarterly report pursuant to Section 13 or 15(d)

Goodwill and Other Intangible Assets

v3.22.1
Goodwill and Other Intangible Assets
3 Months Ended
Mar. 31, 2022
Goodwill and Other Intangible Assets  
Goodwill and Other Intangible Assets

6.            Goodwill and Other Intangible Assets:

​

The following table summarizes the changes in the carrying amount of goodwill for the three months ended March 31, 2022:

​

​

​

​

​

Balance at January 1, 2022

​

$

17,188

Translation adjustments

​

​

(328)

Balance March 31, 2022

​

$

16,860

​

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

​

​

​

​

​

​

​

​

​

​

​

​

​

As of March 31, 2022

​

​

Gross Carrying Amount

​

Accumulated Amortization

​

Net Carrying Amount

Customer and vendor relationships

​

$

10,405

​

$

1,265

​

$

9,140

Trade name

​

​

504

​

​

47

​

​

457

Total

​

$

10,909

​

$

1,312

​

$

9,597

​

​

​

​

​

​

​

​

​

​

​

​

As of December 31, 2021

​

​

Gross Carrying Amount

​

Accumulated Amortization

​

Net Carrying Amount

Customer and vendor relationships

​

$

10,550

​

$

1,079

​

$

9,471

Trade name

​

​

519

​

​

40

​

​

479

Total

​

$

11,069

​

$

1,119

​

$

9,950

​

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 March 31, 2022 and 2021, the Company recognized total amortization expense for other intangibles, net of $0.2 million, respectively.

​

Estimated future amortization expense of the Company’s other intangibles, net as of March 31, 2022 is as follows:

​

​

​

​

​

2022 (excluding the three months ended March 31, 2022)

    

$

603

2023

​

 

804

2024

​

 

804

2025

​

 

804

2026

​

 

804

Thereafter

​

 

5,778

Total

​

$

9,597

​