| Goodwill & Intangible Assets |
Goodwill & Intangible Assets The changes in the carrying value of goodwill by segment for the three months ended March 31, 2023 are as follows (in thousands):
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DME Services (a) |
| Balance as of December 31, 2022 |
$ |
3,710 |
| Goodwill acquired |
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— |
| Balance as of March 31, 2023 |
$ |
3,710 |
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(a) The ITS segment had no recorded goodwill during the reported periods. |
The carrying amount and accumulated amortization of intangible assets consisted of the following (in thousands):
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March 31, 2023 |
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December 31, 2022 |
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Gross
Assets
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Accumulated
Amortization
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Net |
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Gross
Assets
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Accumulated
Amortization
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Net |
| Nonamortizable intangible assets |
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| Trade names |
$ |
2,000 |
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$ |
— |
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$ |
2,000 |
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$ |
2,000 |
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$ |
— |
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$ |
2,000 |
| Amortizable intangible assets: |
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| Trade names |
23 |
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(23) |
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— |
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23 |
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(23) |
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— |
| Physician and customer relationships |
38,834 |
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(33,769) |
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5,065 |
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38,834 |
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(33,594) |
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5,240 |
| Non-competition agreements |
472 |
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(185) |
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287 |
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472 |
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(161) |
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311 |
| Unpatented technology |
943 |
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(292) |
|
651 |
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943 |
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(258) |
|
685 |
| Software |
10,300 |
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(10,115) |
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185 |
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10,300 |
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(10,100) |
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200 |
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| Total nonamortizable and amortizable intangible assets |
$ |
52,572 |
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$ |
(44,384) |
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$ |
8,188 |
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$ |
52,572 |
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$ |
(44,136) |
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$ |
8,436 |
Amortization expense for the three months ended March 31, 2023 was $0.2 million, compared to $0.7 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, 2023 is as follows (in thousands):
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2023 |
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2024 |
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2025 |
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2026 |
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2027 |
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2028 and thereafter |
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Total |
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| Amortization expense |
$ |
743 |
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$ |
990 |
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$ |
810 |
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$ |
524 |
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$ |
471 |
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$ |
2,650 |
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$ |
6,188 |
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