Quarterly report pursuant to Section 13 or 15(d)

Goodwill & Intangible Assets

v3.22.1
Goodwill & Intangible Assets
 3 Months Ended
Mar. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Intangible Assets Goodwill & Intangible Assets
The changes in the carrying value of goodwill by segment for the three months ended March 31, 2022 are as follows (in thousands):
  DME Services (a)
Balance as of December 31, 2021 $ 3,710
Goodwill acquired —
Balance as of March 31, 2022 $ 3,710
(a) The ITS segment has no recorded goodwill.
The carrying amount and accumulated amortization of intangible assets consisted of the following (in thousands):
  March 31, 2022 December 31, 2021
 
Gross
Assets
Accumulated
Amortization
 Net
Gross
Assets
Accumulated
Amortization
Net
Nonamortizable intangible assets            
Trade names $ 2,000 $ — $ 2,000 $ 2,000 $ — $ 2,000
Amortizable intangible assets:
Trade names 23 (23) — 23 (23) —
Physician and customer relationships 38,834 (32,033) 6,801 38,834 (31,401) 7,433
Non-competition agreements 472 (90) 382 472 (67) 405
Unpatented technology 943 (157) 786 943 (123) 820
Software 11,530 (11,280) 250 11,530 (11,258) 272
 
Total nonamortizable and amortizable intangible assets $ 53,802 $ (43,583) $ 10,219 $ 53,802 $ (42,872) $ 10,930
Amortization expense for the three months ended March 31, 2022 was $0.7 million, compared to $1.0 million for the same prior year period. This expense was recorded in “amortization of intangibles expenses” for each period. Expected remaining annual amortization expense for the next five years for intangible assets recorded as of March 31, 2022 is as follows (in thousands):
  2022 2023 2024 2025 2026
2027 and thereafter
 Total
               
Amortization expense $ 1,783 $ 990 $ 990 $ 810 $ 524 $ 3,122 $ 8,219