GOODWILL AND INTANGIBLE ASSETS |
GOODWILL AND INTANGIBLE ASSETS
The changes in goodwill are as follows:
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September 30, 2021 |
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December 31, 2020 |
Balance, beginning of period |
$ |
62,951 |
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|
$ |
17,799 |
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Goodwill additions and measurement period adjustments |
60,924 |
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|
45,152 |
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Balance, end of period |
$ |
123,875 |
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|
$ |
62,951 |
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Intangible assets consist of the following:
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September 30, 2021 |
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December 31, 2020 |
|
Gross Carrying Amount |
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Accumulated Amortization |
|
Gross Carrying Amount |
|
Accumulated Amortization |
Tradenames |
$ |
27,144 |
|
|
$ |
(3,584) |
|
|
$ |
13,923 |
|
|
$ |
(398) |
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Patents, trademarks |
100 |
|
|
(38) |
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|
100 |
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|
(9) |
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Customer relationships |
22,057 |
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(2,130) |
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|
6,297 |
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(138) |
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Non-competes |
1,146 |
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(175) |
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|
796 |
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(22) |
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Intellectual property |
2,065 |
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(241) |
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|
— |
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— |
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Capitalized software |
3,811 |
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(758) |
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|
1,163 |
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(222) |
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$ |
56,323 |
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|
$ |
(6,926) |
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|
$ |
22,279 |
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|
$ |
(789) |
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Amortization expense for the three months ended September 30, 2021 and 2020 was $2.6 million and $44.1 thousand, respectively.
Amortization expense for the nine months ended September 30, 2021 and 2020 was $6.1 million and $0.2 million, respectively.
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Future amortization expense is as follows: |
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2021, remainder |
$ |
2,718 |
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2022 |
11,002 |
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2023 |
10,707 |
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2024 |
10,356 |
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2025 |
9,459 |
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Thereafter |
5,155 |
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Total |
$ |
49,397 |
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