| Other Intangible Assets |
l
8. Other Intangible Assets
The following is a summary of the Company’s other intangible assets:
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross |
|
Less |
|
Net |
|
|
|
Carrying |
|
Accumulated |
|
Carrying |
|
|
|
Amount |
|
Amortization |
|
Amount |
June 30, 2020 |
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|
|
|
|
|
|
|
Indefinite-lived intangibles: |
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|
|
|
|
|
|
|
|
Trademark and tradenames |
|
$ |
77,600 |
|
$ |
- |
|
$ |
77,600 |
Amortizable intangibles: |
|
|
|
|
|
|
|
|
|
Dealer network |
|
|
80,000 |
|
|
65,000 |
|
|
15,000 |
Customer relationships |
|
|
80,920 |
|
|
24,566 |
|
|
56,354 |
Patents |
|
|
21,136 |
|
|
13,857 |
|
|
7,279 |
Noncompete agreements |
|
|
8,640 |
|
|
8,327 |
|
|
313 |
Trademarks |
|
|
5,459 |
|
|
3,760 |
|
|
1,699 |
Backlog |
|
|
1,900 |
|
|
1,900 |
|
|
- |
License |
|
|
20 |
|
|
20 |
|
|
- |
Amortizable intangibles, net |
|
|
198,075 |
|
|
117,430 |
|
|
80,645 |
Total |
|
$ |
275,675 |
|
$ |
117,430 |
|
$ |
158,245 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross |
|
Less |
|
Net |
|
|
|
Carrying |
|
Accumulated |
|
Carrying |
|
|
|
Amount |
|
Amortization |
|
Amount |
December 31, 2019 |
|
|
|
|
|
|
|
|
|
Indefinite-lived intangibles: |
|
|
|
|
|
|
|
|
|
Trademark and tradenames |
|
$ |
77,600 |
|
$ |
- |
|
$ |
77,600 |
Amortizable intangibles: |
|
|
|
|
|
|
|
|
|
Dealer network |
|
|
80,000 |
|
|
63,000 |
|
|
17,000 |
Customer relationships |
|
|
80,920 |
|
|
21,914 |
|
|
59,006 |
Patents |
|
|
21,136 |
|
|
13,229 |
|
|
7,907 |
Noncompete agreements |
|
|
8,640 |
|
|
8,177 |
|
|
463 |
Trademarks |
|
|
5,459 |
|
|
3,713 |
|
|
1,746 |
Backlog |
|
|
1,900 |
|
|
1,900 |
|
|
- |
License |
|
|
20 |
|
|
20 |
|
|
- |
Amortizable intangibles, net |
|
|
198,075 |
|
|
111,953 |
|
|
86,122 |
Total |
|
$ |
275,675 |
|
$ |
111,953 |
|
$ |
163,722 |
|
|
|
|
|
|
|
|
|
|
Amortization expense for intangible assets was $2,739 and $2,739 for the three months ended June 30, 2020 and 2019, respectively. Amortization expense for intangible assets was $5,477 and $5,480 for the six months ended June 30, 2020 and 2019, respectively. Estimated amortization expense for the remainder of 2020 and each of the succeeding five years is as follows:
|
|
|
|
2020 |
|
$ |
5,466 |
2021 |
|
|
10,670 |
2022 |
|
|
10,520 |
2023 |
|
|
10,520 |
2024 |
|
|
7,520 |
2025 |
|
|
6,075 |
|