Annual report pursuant to Section 13 and 15(d)

Goodwill and Other Intangible Assets

v3.19.1
Goodwill and Other Intangible Assets
12 Months Ended
Dec. 31, 2018
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Other Intangible Assets

4. Goodwill and Other Intangible Assets

 

Goodwill

 

Changes in the Company’s goodwill balance for the years ended December 31, 2018 and 2017, are summarized in the table below.

 

    2018     2017  
Balance as at beginning of period   $ 25,886     $ 25,786  
Foreign currency translation     (65 )     100  
Balance at end of period   $ 25,821     $ 25,886  

 

Intangible Assets

 

The Company’s intangible assets, excluding goodwill, consist of intangible assets acquired in business combinations and were recorded at their estimated fair values on the date of acquisition. The finite-lived intangible assets that are being amortized are summarized in the table below.

 

    Weighted Average Useful Life (years)     December 31, 2018     December 31, 2017  
        Gross Carrying Amount     Accumulated Amortization     Net Carrying Amount     Gross Carrying Amount     Accumulated Amortization     Net Carrying Amount  
Trade name     4.6     $ 648     $ (648 )   $ -     $ 650     $ (650 )   $ -  
Acquired technology     5.1       4,828       (4,763 )     65       4,828       (4,714 )     114  
In-process research and development     5.0       94       (94 )     -       94       (85 )     9  
Customer relationships     5.7       4,576       (4,120 )     456       4,626       (3,848 )     778  
Order backlog     1.5       329       (329 )     -       329       (329 )     -  
            $ 10,475     $ (9,954 )   $ 521     $ 10,527     $ (9,626 )   $ 901  

 

Amortization expense for the years ended December 31, 2018 and 2017, was approximately $372 and $1,284 respectively.

 

Expected future annual amortization expense for finite-lived intangible assets as of December 31, 2018, is as follows:

 

Year   Amortization  
2019     269  
2020     141  
2021     90  
2022     21  
    $ 521