Enzo Biochem, Inc. Annual report pursuant to Section 13 and 15(d)

Goodwill and intangible assets

12 Months Ended

Jul. 31, 2019

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:

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