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 [Abstract]  
Goodwill And Other Intangible Assets NOTE 5. GOODWILL AND INTANGIBLE ASSETS

Goodwill

The following table summarizes the balances in goodwill by segment:

Black Diamond

Sierra

Rhino-Rack

Total

Balance at December 31, 2020

$

-

$

26,715

$

-

$

26,715

Increase due to acquisition of Rhino-Rack

-

-

85,127

85,127

Impact of foreign currency exchange rates

-

-

(3,668)

(3,668)

Balance at September 30, 2021

$

-

$

26,715

$

81,459

$

108,174

Indefinite Lived Intangible Assets

The following table summarizes the changes in indefinite lived intangible assets:

Balance at December 31, 2020

$

47,523

Increase due to acquisition of Rhino-Rack

72,800

Impact of foreign currency exchange rates

(3,326)

Balance at September 30, 2021

$

116,997

Other Intangible Assets, net

The following table summarizes the changes in gross other intangible assets:

Gross balance at December 31, 2020

$

40,840

Increase due to acquisition of Rhino-Rack

51,500

Impact of foreign currency exchange rates

(2,492)

Gross balance at September 30, 2021

$

89,848

Other intangible assets, net of amortization as of September 30, 2021 and December 31, 2020, were as follows:

September 30, 2021

Gross

Accumulated Amortization

Net

Weighted Average Useful Life

Intangibles subject to amortization

Customer relationships

$

66,705

$

(21,036)

$

45,669

12.8 years

Product technologies

20,933

(4,540)

16,393

10.4 years

Tradename / trademark

1,263

(653)

610

9.4 years

Core technologies

947

(947)

-

10.0 years

$

89,848

$

(27,176)

$

62,672

12.2 years

December 31, 2020

Gross

Accumulated Amortization

Net

Weighted Average Useful Life

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

Amortization expense for the three months ended September 30, 2021 and 2020 was $3,577 and $753, respectively, and for the nine months ended September 30, 2021 and 2020 was $5,971 and $2,290, respectively. Future amortization expense for other intangible assets as of September 30, 2021 is as follows:

Years Ending December 31,

Amortization Expense

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

$

3,529

2022

12,729

2023

11,148

2024

9,731

2025

8,035

Thereafter

17,500

$

62,672