Intangible assets, royalties, and goodwill
|3 Months Ended|
Mar. 31, 2021
|Goodwill and Intangible Assets Disclosure [Abstract]|
|Intangible assets, royalties, and goodwill||Intangible assets, royalties, and goodwill
The Company’s intangible assets (in thousands) and related useful lives (in years) are as follows:
Amortization expense was $0.4 million for the three months ended March 31, 2021 and 2020, respectively.
The estimated future amortization of intangible assets over the remaining weighted average useful life of 10.0 years is as follows (in thousands):
There were no indicators or impairment of the intangible assets as of March 31, 2021.
Goodwill was $18.6 million as of March 31, 2021 and December 31, 2020, respectfully. The Company performed a quantitative assessment for its annual impairment test as of October 1, 2020. Under the quantitative approach, the Company makes various estimates and assumptions to determine the estimated fair value of the reporting unit using a combination of a discounted cash flow model and earnings multiples for guideline public companies. As of March 31, 2021, there was no accumulated impairment loss and no impairment expense related to goodwill.
The entire disclosure for goodwill and intangible assets.
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef