Annual report pursuant to Section 13 and 15(d)

Goodwill and intangible assets

v3.19.3
Goodwill and intangible assets
12 Months Ended
Jul. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Intangible Assets Disclosure [Text Block]

Note 2 - Goodwill and intangible assets


Goodwill


The Company’s net carrying amount of goodwill is in the Clinical Laboratory Services segment and is $7,452 as of July 31, 2019 and 2018.


Intangible assets


The Company’s change in the net carrying amount of intangible assets, all in the Life Sciences Products segment is as follows:


    Gross     Accumulated
Amortization
    Net  
July 31, 2017   $ 27,436     $ (24,541 )   $ 2,895  
Amortization expense           (992 )     (992 )
Foreign currency translation     (89 )     72       (17 )
July 31, 2018   $ 27,347     $ (25,461 )   $ 1,886  
Amortization expense           (842 )     (842 )
Foreign currency translation     (109 )     98       (11 )
July 31, 2019   $ 27,238     $ (26,205 )   $ 1,032  

Intangible assets, all finite-lived, consist of the following:


    July 31, 2019     July 31, 2018  
    Gross     Accumulated
Amortization
  Net     Gross     Accumulated
Amortization
  Net  
Patents   $ 11,027     $ (10,996 )   $ 31     $ 11,027     $ (10,980 )   $ 47  
Customer relationships     11,746       (10,745 )     1,001       11,836       (9,997 )     1,839  
Website and acquired content     1,008       (1,008 )           1,008       (1,008 )      
Licensed technology and other     483       (483 )           483       (483 )      
Trademarks     2,974       (2,974 )           2,993       (2,993 )      
Total   $ 27,238     $ (26,206 )   $ 1,032     $ 27,347     $ (25,461 )   $ 1,886  

At July 31, 2019 information with respect to the intangibles acquired is as follows:


     

Useful life
assigned 

   

Weighted average
remaining useful life 

 
Customer relationships     8-15 years     1 years  
Other intangibles     10 years     3 years  

At July 31, 2019, the weighted average remaining useful life of intangible assets was approximately one year.


Estimated amortization expense related to these finite-lived intangible assets for the five succeeding fiscal years ending July 31 is as follows:


2020   $ 513  
2021     279  
2022     240  
2023      
2024      

Amortization expense for the years ended July 31, 2019, 2018, and 2017 was $842, $992, and $1,520, respectively.