Note 7 - Goodwill & Identified Intangible Assets

9 Months Ended

Sep. 30, 2026

Notes to Financial Statements

Intangible Asset and Goodwill [Text Block]

7. GOODWILL & IDENTIFIED INTANGIBLE ASSETS

There was no change in goodwill during the nine months ended September 30, 2026.

Intangible assets other than goodwill at the respective balance sheet dates consisted of the following:

		September 30, 2026
		Gross				Accumulated				Accumulated				Carrying
($ in thousands)		Amount				Amortization				Impairment⁽¹⁾				Amount
Indefinite-lived intangible assets
Trademarks		$	78,654							$	(4,000	)		$	74,654
Intangible assets subject to amortization
Patents			895			$	(882	)			-				13
Customer relationships			41,659				(15,384	)			-				26,275
Total intangible assets other than goodwill		$	121,208			$	(16,266	)		$	(4,000	)		$	100,942

⁽¹⁾Relates to the impairment of the Muck brand for the year ended December 31, 2024.

		December 31, 2025
		Gross				Accumulated				Accumulated				Carrying
($ in thousands)		Amount				Amortization				Impairment⁽¹⁾				Amount
Indefinite-lived intangible assets
Trademarks		$	78,654							$	(4,000	)		$	74,654
Intangible assets subject to amortization
Patents			895			$	(875	)			-				20
Customer relationships			41,659				(13,300	)			-				28,359
Total intangible assets other than goodwill		$	121,208			$	(14,175	)		$	(4,000	)		$	103,033

⁽¹⁾Relates to the impairment of the Muck brand for the year ended December 31, 2024.

		September 30, 2025
		Gross				Accumulated				Accumulated				Carrying
($ in thousands)		Amount				Amortization				Impairment⁽¹⁾				Amount
Indefinite-lived intangible assets
Trademarks		$	78,654							$	(4,000	)		$	74,654
Intangible assets subject to amortization
Patents			895			$	(872	)			-				23
Customer relationships			41,659				(12,606	)			-				29,053
Total intangible assets other than goodwill		$	121,208			$	(13,478	)		$	(4,000	)		$	103,730

⁽¹⁾Relates to the impairment of the Muck brand for the year ended December 31, 2024.

The weighted average remaining life of patents and customer relationships is 1.8 years and 9.5 years, respectively.

Amortization expense for intangible assets subject to amortization for each of the three months ended September 30, 2026 and 2025 was $0.7 million. Amortization expense for intangible assets subject to amortization for the nine months ended September 30, 2026 and 2025 was $2.1 million.

As of September 30, 2026, a schedule of approximate expected remaining amortization expense related to intangible assets for the years ending December 31 is as follows:

			Amortization
($ in thousands)	Year		Expense
	2026		$	697
	2027			2,785
	2028			2,781
	2029			2,779
	2030			2,778
	2031+			14,468
	Total		$	26,288