Quarterly report pursuant to Section 13 or 15(d)

Goodwill and Other Intangible Assets

v3.22.2
Goodwill and Other Intangible Assets
6 Months Ended
Jun. 30, 2022
Goodwill and Other Intangible Assets  
Goodwill and Other Intangible Assets

6.            Goodwill and Other Intangible Assets:

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The following table summarizes the changes in the carrying amount of goodwill for the six months ended June 30, 2022:

​

​

​

​

​

Balance at January 1, 2022

​

$

17,188

Translation adjustments

​

​

(1,367)

Balance June 30, 2022

​

$

15,821

​

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

​

​

​

​

​

​

​

​

​

​

​

​

​

As of June 30, 2022

​

​

Gross Carrying Amount

​

Accumulated Amortization

​

Net Carrying Amount

Customer and vendor relationships

​

$

9,852

​

$

1,391

​

$

8,461

Trade name

​

​

467

​

​

52

​

​

415

Total

​

$

10,319

​

$

1,443

​

$

8,876

​

​

​

​

​

​

​

​

​

​

​

​

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.

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During the three months ended June 30, 2022 and 2021, the Company recognized total amortization expense for other intangibles, net of $0.2 million, respectively. During the six months ended June 30, 2022 and 2021, the Company recognized total amortization expense for other intangibles, net of $0.4 million and $0.5 million, respectively.

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Estimated future amortization expense of the Company’s other intangibles, net as of June 30, 2022 is as follows:

​

​

​

​

​

2022 (excluding the six months ended June 30, 2022)

    

$

378

2023

​

 

757

2024

​

 

757

2025

​

 

757

2026

​

 

757

Thereafter

​

 

5,470

Total

​

$

8,876

​