Quarterly report pursuant to Section 13 or 15(d)

GOODWILL

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GOODWILL
 9 Months Ended
Sep. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]  
GOODWILL GOODWILL
As of September 30, 2023, changes in the carrying amount of goodwill during the period presented were as follows:
(in thousands)
Balance as of December 31, 2022 $ 3,585 
Balance as of September 30, 2023 $ 3,585 
Goodwill is assigned to the reporting unit, which is the operating segment level or one level below the operating segment. The Company conducts its annual goodwill impairment assessment on September 30, and between annual tests if the Company becomes aware of an event or a change in circumstances that would indicate the carrying value may be impaired. For the purpose of the goodwill impairment assessment, the Company has the option to perform a qualitative assessment (commonly referred to as “step zero”) to determine whether further quantitative analysis for impairment of goodwill or indefinite-lived intangible assets is necessary (“step one”). For the purpose of the annual impairment test on September 30, 2023, the Company performed a qualitative assessment and noted no impairment of goodwill as of September 30, 2023. The balance of goodwill at September 30, 2023 and December 31, 2022 remained unchanged at $3.59 million.