Annual report pursuant to Section 13 and 15(d)

Note 6 - Intangible Assets

v3.21.1
Note 6 - Intangible Assets
12 Months Ended
Dec. 31, 2020
Notes to Financial Statements  
Intangible Assets Disclosure [Text Block]
6.
         
Intangible Assets
 
The carrying amount and accumulated amortization of intangible assets as of
December 31, 2020
and
2019
were as follows (in thousands):
 
   
2020
 
   
Gross Assets
   
Accumulated Amortization
   
Net
 
Nonamortizable intangible assets
                       
Trade names
  $
2,000
    $
-
    $
2,000
 
Amortizable intangible assets
                       
Trade names
   
23
     
(23
)    
-
 
Physician and customer relationships
   
36,534
     
(28,924
)    
7,610
 
Software
   
11,230
     
(9,663
)    
1,567
 
                         
Total nonamortizable and amortizable intangible assets
  $
49,787
    $
(38,610
)   $
11,177
 
 
 
   
2019
 
   
Gross Assets
   
Accumulated Amortization
   
Net
 
Nonamortizable intangible assets
                       
Trade names
  $
2,000
    $
-
    $
2,000
 
Amortizable intangible assets
                       
Trade names
   
23
     
(23
)    
-
 
Physician and customer relationships
   
36,534
     
(26,550
)    
9,984
 
Software
   
11,230
     
(7,751
)    
3,479
 
                         
Total nonamortizable and amortizable intangible assets
  $
49,787
    $
(34,324
)   $
15,463
 
 
The weighted average remaining lives of physician and customer relationships and software were
seven
years and
one
year, respectively, as of
December 31, 2020.
 
The Company assesses impairment indicators related to its internally-developed, internal-use software, specifically looking at the effectiveness and useful lives of each project and sub-project to determine if impairment indicators are present. In
December 2020
and
2019,
respectively, the Company assessed the impairment indicators and found
none
to be present.
 
Amortization expense for intangible assets for the years ended
December 31, 2020
and
2019
was
$4.3
million and
$4.4
million, respectively, which was recorded in operating expenses. Expected annual amortization expense for the next
five
years for intangible assets recorded as of
December 31, 2020
is as follows (in thousands):
 
   
2021
   
2022
   
2023
   
2024
   
2025
   
2026 and
thereafter
 
Amortization expense
  $
3,930
    $
2,051
    $
548
    $
548
    $
367
    $
1,733