Annual report pursuant to Section 13 and 15(d)

Intangible Assets, Net

v3.22.0.1
Intangible Assets, Net
12 Months Ended
Dec. 31, 2021
Intangible Assets, Net  
Intangible Assets, Net

Note 6. Intangible Assets, Net

Intangible assets, net consisted of the following at the dates indicated (amount in thousands):

December 31, 2021

 

Gross Carrying

Accumulated

Net Carrying

 

    

Amount

    

Amortization

    

Value

 

Trade names

 

$

6,326

$

(454)

$

5,872

Software development

 

 

9,017

 

 

(1,095)

 

7,922

  

Customer relationships

 

 

8,180

 

 

(897)

 

7,283

  

Agent relationships

3,030

(233)

2,797

Know-how

 

 

430

 

 

(61)

 

369

  

$

26,983

 

$

(2,740)

$

24,243

December 31, 2020

Gross

Carrying

Accumulated

Net Carrying

    

Amount

    

Amortization

    

Value

Trade names

$

166

$

(1)

$

165

Software development

 

921

(164)

757

$

1,087

$

(165)

$

922

As of December 31, 2021, the estimated future amortization expense for definite-lived intangible assets will be (amount in thousands):

Years Ended December 31, 

    

  

2022

$

4,020

2023

 

3,920

2024

 

3,806

2025

 

3,571

2026

2,987

Thereafter

5,939

Total

$

24,243

Amortization expense for capitalized software was approximately $0.9 million and $0.1 million for the years ended December 31, 2021 and 2020, respectively. Capitalized software costs are amortized over the expected useful lives of the applicable software, which is estimated at five years.