v3.22.4
Goodwill and Intangible Assets
 12 Months Ended
Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Intangible Assets

  Note 11. Goodwill and Intangible Assets

 

Goodwill

 

There were no movements to goodwill during the year ended December 31, 2022, 2021, and 2020.

 

Intangible Assets, Net

 

Intangible assets include Miami-Dade County Notices of Acceptances (“NOA’s”), which are certificates issued for approved products and required to market hurricane- resistant glass in Florida. Also, it includes the intangibles acquired from the acquisition of GM&P.

 

Schedule of Finite-Lived Intangible Assets, Net

   December 31, 2022 
   Gross   Acc. Amort.   Net 
Trade Names  $980   $(980)  $- 
Notice of Acceptances (“NOA’s”), product designs and other intellectual property   9,987    (7,347)   2,706 
Non-compete Agreement   165    (165)   - 
Customer Relationships   4,140    (4,140)   - 
Total  $15,272   $(12,632)  $2,706 

 

   December 31, 2021 
   Gross   Acc. Amort.   Net 
Trade Names  $980   $(947)  $33 
Notice of Acceptances (“NOA’s”), product designs and other intellectual property   9,456    (6,280)   3,176 
Non-compete Agreement   165    (160)   5 
Customer Relationships   4,140    (4,017)   123 
Total  $14,741   $(11,404)  $3,337 

 

The weighted average amortization period is 5.1 years.

 

During the twelve months ended December 31, 2022, 2021, and 2020, the amortization expense amounted to $1,391, $2,298 and $2,178, respectively, and was included within the general and administration expenses in our consolidated statement of operations.

 

The estimated aggregate amortization expense for each of the five succeeding years as of December 31, 2022, is as follows:

 

Schedule of Finite Lived Intangible Assets Future Amortization Expense

Year ending  (in thousands) 
2023   975 
2024   686 
2025   380 
2026   297 
Thereafter   368 
Total   $2,706