Quarterly report pursuant to Section 13 or 15(d)

Goodwill And Intangible Assets

v3.23.1
Goodwill And Intangible Assets
3 Months Ended
Mar. 31, 2023
Goodwill And Intangible Assets [Abstract]  
Goodwill And Intangible Assets NOTE 4. GOODWILL AND INTANGIBLE ASSETS

Goodwill

The following table summarizes the balances in goodwill by segment:

Outdoor

Precision Sport

Adventure

Total

Goodwill

$

29,507

$

26,715

$

88,349

$

144,571

Accumulated goodwill impairment losses

(29,507)

-

(52,071)

(81,578)

Balance at December 31, 2022

-

26,715

36,278

62,993

Impact of foreign currency exchange rates

-

-

(289)

(289)

Balance at March 31, 2023

$

-

$

26,715

$

35,989

$

62,704

Indefinite-Lived Intangible Assets

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

Balance at December 31, 2022

$

82,901

Impact of foreign currency exchange rates

(457)

Balance at March 31, 2023

$

82,444

Trademarks classified as indefinite-lived intangible assets by brand as of March 31, 2023 and December 31, 2022, were as follows:

March 31, 2023

December 31, 2022

Black Diamond

$

19,600

$

19,600

PIEPS

3,036

2,986

Sierra

18,900

18,900

Barnes

5,600

5,600

Rhino-Rack

25,379

25,744

MAXTRAX

9,929

10,071

$

82,444

$

82,901

Other Intangible Assets, net

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

Gross balance at December 31, 2022

$

100,889

Impact of foreign currency exchange rates

(697)

Gross balance at March 31, 2023

$

100,192

Other intangible assets, net of amortization as of March 31, 2023 and December 31, 2022, were as follows:

March 31, 2023

Gross

Accumulated Amortization

Net

Weighted Average Useful Life

Intangibles subject to amortization

Customer relationships

$

76,852

$

(36,924)

$

39,928

13.8 years

Product technologies

21,130

(9,974)

11,156

10.2 years

Tradename / trademark

1,263

(865)

398

9.4 years

Core technologies

947

(947)

-

10.0 years

$

100,192

$

(48,710)

$

51,482

13.0 years

December 31, 2022

Gross

Accumulated Amortization

Net

Weighted Average Useful Life

Customer relationships

$

77,370

$

(34,653)

$

42,717

13.8 years

Product technologies

21,309

(9,207)

12,102

10.2 years

Tradename / trademark

1,263

(827)

436

9.4 years

Core technologies

947

(947)

-

10.0 years

$

100,889

$

(45,634)

$

55,255

13.0 years

Amortization expense for the three months ended March 31, 2023 and 2022, was $3,276 and $4,120, respectively. Future amortization expense for other intangible assets as of March 31, 2023 is as follows:

Years Ending December 31,

Amortization Expense

2023 (excluding the three months ended March 31, 2023)

$

9,427

2024

10,654

2025

8,622

2026

6,619

2027

4,837

2028

3,451

Thereafter

7,872

$

51,482