Quarterly report pursuant to Section 13 or 15(d)

Acquisitions, Goodwill and Other Intangible Assets (Tables)

v3.21.2
Acquisitions, Goodwill and Other Intangible Assets (Tables)
9 Months Ended
Sep. 30, 2021
Business Combinations [Abstract]  
Summary of Goodwill and Intangible Assets, Net
Goodwill and intangible assets, net consisted of the following (in thousands):
 
 
  
September 30, 2021
 
  
December 31, 2020
 
 
  
Gross
Carrying
Amount
 
  
Accumulated
Amortization
 
 
Net Book
Value
 
  
Gross
Carrying
Amount
 
  
Accumulated
Amortization
 
 
Net Book
Value
 
Goodwill and intangible assets:
  
  
 
  
  
 
Goodwill
   $ 34,071      $ —       $ 34,071      $ 33,375      $ —       $ 33,375  
Intangible assets
(1)
     23,974        (9,071     14,903        24,745        (6,067     18,678  
    
 
 
    
 
 
   
 
 
    
 
 
    
 
 
   
 
 
 
     $ 58,045      $ (9,071   $ 48,974      $ 58,120      $ (6,067   $ 52,053  
    
 
 
    
 
 
   
 
 
    
 
 
    
 
 
   
 
 
 
 
(1)
Total weighted average amortization period was 5.53 years and 5.57 years as of September 30, 2021 and December 31, 2020, respectively.
Summary of Changes in Carrying Carrying Amount of Goodwill
The changes in the carrying amount of goodwill consisted of the following (in thousands):
 
 
  
Nine Months Ended
September 30,
 
 
  
2021
 
  
2020
 
Beginning balance
   $ 33,375      $ 15,072  
Additions from acquisitions
(1)
     696        9,247  
Impairment losses
     —          —    
    
 
 
    
 
 
 
Ending balance
   $ 34,071      $ 24,319  
    
 
 
    
 
 
 
 
(1)
 
The 2021 addition represents a measurement period adjustment.
Schedule of Estimated Amortization Expense for Intangible Assets
Estimated amortization expense for intangible assets by year for the next five years and thereafter consisted of the following (in thousands):
 
 
  
September 30, 2021
 
Remainder of 2021
   $ 869  
2022
     3,474  
2023
     3,407  
2024
     2,891  
2025
     2,671  
Thereafter
     1,591  
    
 
 
 
     $ 14,903