Intangible assets, royalties, and goodwill
|9 Months Ended|
Sep. 30, 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 and $1.2 million for both the three and nine months ended September 30, 2021 and 2020, respectively.
The estimated future amortization of intangible assets over the remaining weighted average useful life of 9.6 years is as follows (in thousands):
There were no indicators or impairment of the intangible assets as of September 30, 2021.
Goodwill was $18.6 million as of September 30, 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 September 30, 2021, there was no accumulated impairment loss and no impairment expense related to goodwill and no indicators, events or changes in circumstances that would indicate goodwill was impaired during the period from October 2, 2020 through September 30, 2021.
The entire disclosure for goodwill and intangible assets.
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef