Quarterly report pursuant to Section 13 or 15(d)

Goodwill & Intangible Assets

v3.21.2
Goodwill & Intangible Assets
 9 Months Ended
Sep. 30, 2021
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 nine months ended September 30, 2021 are as follows (in thousands):
  DME Services (a)
Balance as of December 31, 2020 $ —
Goodwill acquired 3,710
Balance as of September 30, 2021 $ 3,710
(a) No goodwill allocated to the ITS segment.
The carrying amount and accumulated amortization of intangible assets consisted of the following (in thousands):
  September 30, 2021 December 31, 2020
 
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 (30,769) 8,065 36,534 (28,924) 7,610
Non-competition agreements 472 (43) 429 — — —
Unpatented technology 943 (90) 853 — — —
Software 11,530 (10,949) 581 11,230 (9,663) 1,567
 
Total nonamortizable and amortizable intangible assets $ 53,802 $ (41,874) $ 11,928 $ 49,787 $ (38,610) $ 11,177
Amortization expense for the three and nine months ended September 30, 2021 was $1.1 million and $3.3 million, respectively, compared to $1.1 million and $3.2 million for the same prior year periods, respectively. 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 September 30, 2021 is as follows (in thousands):
  2021 2022 2023 2024 2025
2026 and thereafter
 Total
               
Amortization expense $ 998 $ 2,494 $ 990 $ 990 $ 810 $ 3,646 $ 9,928