Quarterly report pursuant to Section 13 or 15(d)

Goodwill And Intangible Assets

v3.22.2
Goodwill And Intangible Assets
6 Months Ended
Jun. 30, 2022
Goodwill And Intangible Assets [Abstract]  
Goodwill And Intangible Assets NOTE 5. GOODWILL AND INTANGIBLE ASSETS

Goodwill

The following table summarizes the balances in goodwill by segment:

Outdoor

Precision Sport

Adventure

Total

Balance at December 31, 2021

$

-

$

26,715

$

91,375

$

118,090

Acquisition adjustment

-

-

741

741

Impact of foreign currency exchange rates

-

-

(3,173)

(3,173)

Balance at June 30, 2022

$

-

$

26,715

$

88,943

$

115,658

Indefinite Lived Intangible Assets

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

Balance at December 31, 2021

$

128,271

Impact of foreign currency exchange rates

(4,420)

Balance at June 30, 2022

$

123,851

Trademarks classified as indefinite-lived intangible assets by brand as of June 30, 2022 and December 31, 2021, were as follows:

June 30, 2022

December 31, 2021

Black Diamond

$

19,600

$

19,600

PIEPS

2,917

3,166

Sierra

18,900

18,900

Barnes

5,600

5,600

Rhino-Rack

66,659

70,278

MAXTRAX

10,175

10,727

$

123,851

$

128,271

Other Intangible Assets, net

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

Gross balance at December 31, 2021

$

104,681

Impact of foreign currency exchange rates

(3,337)

Gross balance at June 30, 2022

$

101,344

Other intangible assets, net of amortization as of June 30, 2022 and December 31, 2021, were as follows:

June 30, 2022

Gross

Accumulated Amortization

Net

Weighted Average Useful Life

Intangibles subject to amortization

Customer relationships

$

77,717

$

(29,290)

$

48,427

13.8 years

Product technologies

21,417

(7,320)

14,097

10.2 years

Tradename / trademark

1,263

(758)

505

9.4 years

Core technologies

947

(947)

-

10.0 years

$

101,344

$

(38,315)

$

63,029

13.0 years

December 31, 2021

Gross

Accumulated Amortization

Net

Weighted Average Useful Life

Customer relationships

$

80,078

$

(23,804)

$

56,274

13.8 years

Product technologies

22,393

(5,557)

16,836

10.2 years

Tradename / trademark

1,263

(690)

573

9.4 years

Core technologies

947

(947)

-

10.0 years

$

104,681

$

(30,998)

$

73,683

12.9 years

Amortization expense for the three months ended June 30, 2022 and 2021, was $3,937 and $1,197, respectively, and for the six months ended June 30, 2022 and 2021 was $8,057 and $2,394, respectively. Future amortization expense for other intangible assets as of June 30, 2022 is as follows:

Years Ending December 31,

Amortization Expense

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

$

7,398

2023

12,882

2024

10,840

2025

8,769

2026

6,732

2027

4,917

Thereafter

11,491

$

63,029