Quarterly report pursuant to Section 13 or 15(d)

Goodwill, Intangible Assets and Deferred Charges

v3.23.1
Goodwill, Intangible Assets and Deferred Charges
 3 Months Ended
Mar. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill, Intangible Assets and Deferred Charges Goodwill, Intangible Assets and Deferred Charges
Goodwill
The Company's goodwill balance of $11.4 million as of March 31, 2023 and December 31, 2022, respectively, was attributable to the Specialty Chemicals segment.

Intangible Assets
Intangible assets represent the fair value of intellectual, non-physical assets resulting from business acquisitions and are amortized over their estimated useful life using either an accelerated or straight-line method over a period of eight to 15 years.
The balance of intangible assets subject to amortization are as follows:
March 31, 2023 December 31, 2022
(in thousands) Gross Carrying Amount Accumulated Amortization Gross Carrying Amount Accumulated Amortization
Definite-lived intangible assets:
Customer related $ 28,226  $ (18,823) $ 28,226  $ (18,437)
Trademarks and trade names 150  (14) 150  (12)
Other 500  (48) 500  (40)
Total definite-lived intangible assets $ 28,876  $ (18,885) $ 28,876  $ (18,489)
Estimated amortization expense related to intangible assets for the next five years are as follows:
(in thousands)
Remainder of 2023 $ 1,185 
2024 1,555 
2025 1,384 
2026 1,153 
2027 973 
2028 820 
Thereafter 2,921 

Deferred Charges
Deferred charges represent debt issuance costs and are amortized over their estimated useful lives using the straight-line method over a period of four years.
The balance of deferred charges subject to amortization are as follows:
(in thousands) March 31, 2023 December 31, 2022
Deferred charges, gross $ 398  $ 398 
Accumulated amortization of deferred charges (220) (195)
Deferred charges, net $ 178  $ 203