Note 7 - Goodwill and Intangible Assets |
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| Goodwill and Intangible Assets Disclosure [Text Block] |
7. Goodwill and Intangible Assets:
The following is a summary of the change in goodwill from December 31, 2024 through June 30, 2025:
Goodwill and intangible assets with indefinite lives are subject to impairment testing annually as of June 30, or whenever events or changes in circumstances indicate that the carrying amount may not be fully recoverable. When evaluating goodwill for impairment, we may decide to first perform a qualitative assessment, or “Step Zero” impairment test, to determine whether it is more likely than not that impairment has occurred. The qualitative assessment includes a review of macroeconomic conditions, industry and market considerations, internal cost factors, and our own overall financial and share price performance, among other factors. If we do not perform a qualitative assessment, or if we determine that it is more likely than not that the carrying amounts of our reporting units exceeds their fair value, we perform a quantitative assessment and calculate the estimated fair value of the respective reporting unit. If the carrying amount of a reporting unit’s goodwill exceeds the fair value of that goodwill, an impairment loss is recognized. As of June 30, 2025, we completed our step zero impairment test at the reporting unit level and determined it was not more likely than not that the carrying values of our reporting units exceeded their fair values. We did recognize any additional impairment charges related to our goodwill and indefinite-lived intangible assets.
There were
no impairments to long lived assets for the
three and six months ended June 30, 2025 and 2024.
Our intangible assets and related accumulated amortization consisted of the following:
Amortization expense related to intangible assets for the three months ended June 30, 2025 and 2024 was $16.3 million and $18.2 million, respectively. Amortization expense related to the intangible assets for six months ended June 30, 2025 and 2024 was $32.1 million and $36.7 million, respectively. Estimated amortization expense for the remainder of 2025 and the years through 2030 and thereafter for intangible assets subject to amortization is as follows:
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