| Goodwill And Other Intangible Assets |
NOTE 5. GOODWILL AND OTHER INTANGIBLE ASSETS
Goodwill
The following table summarizes the changes in goodwill by segment:
|
|
|
|
|
|
|
|
|
|
Black Diamond |
|
Sierra |
|
Total |
|
|
|
|
|
|
|
|
|
Balance at December 31, 2018 |
$ |
- |
|
$ |
18,090 |
|
$ |
18,090 |
|
|
|
|
|
|
|
|
|
Balance at December 31, 2019 |
|
- |
|
|
18,090 |
|
|
18,090 |
|
|
|
|
|
|
|
|
|
Increase due to acquisition of Barnes |
|
- |
|
|
8,625 |
|
|
8,625 |
|
|
|
|
|
|
|
|
|
Balance at December 31, 2020 |
$ |
- |
|
$ |
26,715 |
|
$ |
26,715 |
Indefinite-Lived Intangible Assets
The following table summarizes the changes in indefinite-lived intangible assets:
|
|
|
Balance at December 31, 2019 |
$ |
41,630 |
|
|
|
Increase due to acquisition of Barnes |
|
5,600 |
Impact of foreign currency exchange rates |
|
293 |
|
|
|
Balance at December 31, 2020 |
$ |
47,523 |
|
|
|
Other Intangible Assets, net
The following table summarizes the changes in gross other intangible assets:
|
|
|
Gross balance at December 31, 2019 |
$ |
32,917 |
|
|
|
Increase due to acquisition of Barnes |
|
7,500 |
Impact of foreign currency exchange rates |
|
423 |
|
|
|
Gross balance at December 31, 2020 |
$ |
40,840 |
|
|
|
Other intangible assets, net of amortization as of December 31, 2020 and 2019, were as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, 2020 |
|
Gross |
|
Accumulated Amortization |
|
Net |
|
Weighted Average Useful Life |
Intangibles subject to amortization |
|
|
|
|
|
|
|
|
|
|
|
Customer relationships |
$ |
31,930 |
|
$ |
(16,783) |
|
$ |
15,147 |
|
|
14.2 years |
Product technologies |
|
6,700 |
|
|
(3,151) |
|
|
3,549 |
|
|
11.5 years |
Tradename / trademark |
|
1,263 |
|
|
(543) |
|
|
720 |
|
|
9.4 years |
Core technologies |
|
947 |
|
|
(947) |
|
|
- |
|
|
10.0 years |
|
$ |
40,840 |
|
$ |
(21,424) |
|
$ |
19,416 |
|
|
13.5 years |
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, 2019 |
|
Gross |
|
Accumulated Amortization |
|
Net |
|
Weighted Average Useful Life |
|
|
|
|
|
|
|
|
|
|
|
|
Customer relationships |
$ |
25,995 |
|
$ |
(13,392) |
|
$ |
12,603 |
|
|
15.2 years |
Product technologies |
|
4,712 |
|
|
(2,416) |
|
|
2,296 |
|
|
11.9 years |
Tradename / trademark |
|
1,263 |
|
|
(386) |
|
|
877 |
|
|
9.4 years |
Core technologies |
|
947 |
|
|
(907) |
|
|
40 |
|
|
10.0 years |
|
$ |
32,917 |
|
$ |
(17,101) |
|
$ |
15,816 |
|
|
14.3 years |
Amortization expense for the years ended December 31, 2020, 2019, and 2018, was $4,070, $3,552, and $3,873, respectively. Future amortization expense for other intangible assets as of December 31, 2020 is as follows:
|
|
|
Years Ending December 31, |
Amortization Expense |
2021 |
$ |
4,794 |
2022 |
|
3,810 |
2023 |
|
3,068 |
2024 |
|
2,507 |
2025 |
|
2,109 |
Thereafter |
|
3,128 |
|
$ |
19,416 |
|