Note 3 - Goodwill and Intangibles

9 Months Ended

Sep. 30, 2026

Notes to Financial Statements

Intangible Asset and Goodwill [Text Block]

3.	Goodwill and Intangibles

The following table provides information related to the goodwill and intangible assets as of September 30, 2026 and December 31, 2025 (in millions):

		*September 30,*				*December 31,*
		*2026*				*2025*
Goodwill		$	40.6			$	40.6
Definite-lived intangibles			21.3				23.0
Indefinite-lived intangibles			0.0				0.7
Balance		$	61.9			$	64.3

During the third quarter of 2026, the Company reclassified $0.7 million of indefinite-lived intangible assets to definite-lived intangible assets. The following table summarizes information related to the Company's definite-lived intangible assets as of September 30, 2026 (in millions):

		*Amortization*			*Gross*												*Weighted*
		*Period*			*Carrying*				*Accumulated*				*Net Book*				*Average*
		*(Years)*			*Amount*				*Amortization*				*Value*				*Useful Life*
Client lists		10			$	26.8			$	10.2			$	16.6			$	6.7
Trademarks		10				6.2				2.1				4.1				6.6
Domain name		1.5				0.7				0.1				0.6				1.3
Total					$	33.7			$	12.4			$	21.3			$	6.5

The following table summarizes information related to the Company's definite-lived intangible assets as of December 31, 2025 (in millions):

		*Amortization*			*Gross*												*Weighted*
		*Period*			*Carrying*				*Accumulated*				*Net Book*				*Average*
		*(Years)*			*Amount*				*Amortization*				*Value*				*Useful Life*
Client lists		10			$	26.8			$	8.4			$	18.4			$	7.4
Trademarks		10				6.2				1.6				4.6				7.4
Total					$	33.0			$	10.0			$	23.0			$	7.4

In the third quarter of 2026 and the nine months ended September 30, 2026, the Company recorded $0.8 million and $2.4 million, respectively, of intangible amortization expense, primarily related to the May 2023 acquisition of Indoff. The estimated amortization for future years ending December 31 is as follows (in millions):

2026 remainder		$	0.9
2027			3.6
2028			3.1
2029			3.1
2030			3.1
Thereafter			7.5
Total		$	21.3