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

Goodwill and intangible assets

12 Months Ended

Jul. 31, 2020

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, 2020 and 2019.

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, 2018	$	27,347		$	(25,461	)	$	1,886
Amortization expense		—			(842	)		(842	)
Foreign currency translation		(109	)		97			(12	)
July 31, 2019	$	27,238		$	(26,206	)	$	1,032
Amortization expense		—			(524	)		(524	)
Foreign currency translation		448			(418	)		30
July 31, 2020	$	27,686		$	(27,148	)	$	538

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

	July 31, 2020							July 31, 2019
	Gross		Accumulated Amortization			Net		Gross		Accumulated Amortization			Net
Patents	$	11,027		(11,014	)	$	13	$	11,027	$	(10,996	)	$	31
Customer relationships		12,003		(11,478	)		525		11,746		(10,745	)		1,001
Website and acquired content		1,022		(1,022	)				1,008		(1,008	)		—
Licensed technology and other		483		(483	)				483		(483	)		—
Trademarks		3,151		(3,151	)				2,974		(2,974	)		—
Total	$	27,686		(27,148	)	$	538	$	27,238	$	(26,206	)	$	1,032

At July 31, 2020, information with respect to acquired intangibles is as follows:

Useful life

assigned

Weighted average

remaining useful life

Customer relationships

8-15 years

2 years

At July 31, 2020, the weighted average remaining useful life of intangible assets was approximately two years.

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, 2020, 2019, and 2018 was $524, $842 and $992, respectively.