| Summary of changes in goodwill |
The following table summarizes the changes in goodwill for the nine months ended September 30, 2021:
|
|
|
|
|
|
|
|
|
|
|
|
Products |
|
Distribution |
|
Total |
Balance, December 31, 2020 |
|
$ |
63,698 |
|
$ |
2,616 |
|
$ |
66,314 |
Foreign currency translation adjustments |
|
|
(87) |
|
|
— |
|
|
(87) |
Balance, September 30, 2021 |
|
$ |
63,611 |
|
$ |
2,616 |
|
$ |
66,227 |
|
| Summary of intangible assets |
Intangible assets consisted of the following as of September 30, 2021 and December 31, 2020:
|
|
|
|
|
|
|
|
|
|
|
|
September 30, 2021 |
|
|
|
|
|
|
|
|
|
Weighted |
|
|
|
|
|
Accumulated |
|
|
|
Average |
|
|
Gross |
|
amortization |
|
Net |
|
Useful Life |
Definite lived intangibles: |
|
|
|
|
|
|
|
|
|
Customer relationships |
|
$ |
74,088 |
|
(50,858) |
|
23,230 |
|
11 |
Technology |
|
|
11,978 |
|
(10,919) |
|
1,059 |
|
7 |
Tradenames |
|
|
6,472 |
|
(2,980) |
|
3,492 |
|
4 |
Non-compete agreements |
|
|
1,037 |
|
(1,037) |
|
— |
|
4 |
|
|
$ |
93,575 |
|
(65,794) |
|
27,781 |
|
|
Indefinite lived intangibles: |
|
|
|
|
|
|
|
|
|
Tradenames |
|
|
16,678 |
|
— |
|
16,678 |
|
Indefinite |
Total |
|
$ |
110,253 |
|
(65,794) |
|
44,459 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, 2020 |
|
|
|
|
|
|
|
|
|
Weighted |
|
|
|
|
|
Accumulated |
|
|
|
Average |
|
|
Gross |
|
amortization |
|
Net |
|
Useful Life |
Definite lived intangibles: |
|
|
|
|
|
|
|
|
|
Customer relationships |
|
$ |
74,123 |
|
(45,815) |
|
28,308 |
|
11 |
Technology |
|
|
11,991 |
|
(10,333) |
|
1,658 |
|
7 |
Tradenames |
|
|
6,490 |
|
(2,135) |
|
4,355 |
|
4 |
Non-compete agreements |
|
|
1,041 |
|
(1,027) |
|
14 |
|
4 |
|
|
$ |
93,645 |
|
(59,310) |
|
34,335 |
|
|
Indefinite lived intangibles: |
|
|
|
|
|
|
|
|
|
Tradenames |
|
|
16,674 |
|
— |
|
16,674 |
|
Indefinite |
Total |
|
$ |
110,319 |
|
(59,310) |
|
51,009 |
|
|
|
| Summary of estimated amortization expense for finite lived intangible assets |
The estimated amortization expense for finite-lived intangible assets for the remaining three months of 2021, the next four years and thereafter is as follows:
|
|
|
|
Remainder of 2021 |
|
$ |
2,037 |
2022 |
|
|
7,683 |
2023 |
|
|
6,754 |
2024 |
|
|
3,856 |
2025 |
|
|
1,856 |
Thereafter |
|
|
5,595 |
|
|
$ |
27,781 |
|