| GOODWILL AND INTANGIBLE ASSETS |
NOTE 6. GOODWILL AND INTANGIBLE ASSETS
Goodwill
The following table summarizes the balances in goodwill by segment:
|
|
|
|
|
|
|
|
|
|
Outdoor |
|
Adventure |
|
Total |
|
|
|
|
|
|
|
|
|
Goodwill |
$ |
29,507 |
|
$ |
96,966 |
|
$ |
126,473 |
Accumulated goodwill impairments |
|
(29,507) |
|
|
(88,335) |
|
|
(117,842) |
|
|
|
|
|
|
|
|
|
Balance at December 31, 2024 |
$ |
- |
|
$ |
3,804 |
|
$ |
3,804 |
|
|
|
|
|
|
|
|
|
Balance at March 31, 2025 |
$ |
- |
|
$ |
3,804 |
|
$ |
3,804 |
Indefinite-Lived Intangible Assets
The following table summarizes the changes in indefinite-lived intangible assets:
|
|
|
Balance at December 31, 2024 |
$ |
46,750 |
|
|
|
Impact of foreign currency exchange rates |
|
336 |
|
|
|
Balance at March 31, 2025 |
$ |
47,086 |
Trademarks classified as indefinite-lived intangible assets by brand as of March 31, 2025 and December 31, 2024, were as follows:
|
|
|
|
|
|
|
March 31, 2025 |
|
December 31, 2024 |
Black Diamond |
$ |
19,600 |
|
$ |
19,600 |
PIEPS |
|
3,020 |
|
|
2,899 |
Rhino-Rack |
|
20,272 |
|
|
20,093 |
MAXTRAX |
|
4,194 |
|
|
4,158 |
|
$ |
47,086 |
|
$ |
46,750 |
Other Intangible Assets, net
The following table summarizes the changes in gross other intangible assets:
|
|
|
Gross balance at December 31, 2024 |
$ |
77,960 |
|
|
|
Impact of foreign currency exchange rates |
|
644 |
|
|
|
Gross balance at March 31, 2025 |
$ |
78,604 |
Other intangible assets, net of amortization as of March 31, 2025 and December 31, 2024, were as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
March 31, 2025 |
|
Gross |
|
Accumulated Amortization |
|
Net |
|
Weighted Average Useful Life |
Intangibles subject to amortization |
|
|
|
|
|
|
|
|
|
|
|
Customer relationships |
$ |
59,165 |
|
$ |
(37,530) |
|
$ |
21,635 |
|
|
13.6 years |
Product technologies |
|
16,946 |
|
|
(11,228) |
|
|
5,718 |
|
|
9.9 years |
Tradenames |
|
2,261 |
|
|
(299) |
|
|
1,962 |
|
|
9.5 years |
Non-compete agreements |
|
232 |
|
|
(15) |
|
|
217 |
|
|
5.0 years |
|
$ |
78,604 |
|
$ |
(49,072) |
|
$ |
29,532 |
|
|
12.7 years |
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, 2024 |
|
Gross |
|
Accumulated Amortization |
|
Net |
|
Weighted Average Useful Life |
|
|
|
|
|
|
|
|
|
|
|
|
Customer relationships |
$ |
58,737 |
|
$ |
(35,715) |
|
$ |
23,022 |
|
|
13.6 years |
Product technologies |
|
16,745 |
|
|
(10,528) |
|
|
6,217 |
|
|
9.9 years |
Tradenames |
|
2,246 |
|
|
(197) |
|
|
2,049 |
|
|
9.5 years |
Core technologies |
|
232 |
|
|
(4) |
|
|
228 |
|
|
5.0 years |
|
$ |
77,960 |
|
$ |
(46,444) |
|
$ |
31,516 |
|
|
12.7 years |
Amortization expense for continuing operations for the three months ended March 31, 2025 and 2024, was $2,224 and $2,449, respectively. Future amortization expense for other intangible assets as of March 31, 2025 is as follows:
|
|
|
|
Years Ending December 31, |
|
Amortization Expense |
2025 (excluding the three months ended March 31, 2025) |
|
$ |
6,531 |
2026 |
|
|
6,859 |
2027 |
|
|
4,917 |
2028 |
|
|
3,302 |
2029 |
|
|
2,486 |
2030 |
|
|
1,797 |
Thereafter |
|
|
3,640 |
|
|
$ |
29,532 |
|