| Other Intangible Assets |
7. 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, 2019 |
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|
|
|
|
|
|
|
|
Indefinite-lived intangibles: |
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|
|
|
|
|
|
|
|
Trademark and tradenames |
|
$ |
77,600 |
|
$ |
- |
|
$ |
77,600 |
Amortizable intangibles: |
|
|
|
|
|
|
|
|
|
Dealer network |
|
|
80,000 |
|
|
61,000 |
|
|
19,000 |
Customer relationships |
|
|
80,920 |
|
|
19,262 |
|
|
61,658 |
Patents |
|
|
21,136 |
|
|
12,602 |
|
|
8,534 |
Noncompete agreements |
|
|
8,640 |
|
|
8,027 |
|
|
613 |
Trademarks |
|
|
5,459 |
|
|
3,666 |
|
|
1,793 |
Backlog |
|
|
1,900 |
|
|
1,900 |
|
|
- |
License |
|
|
20 |
|
|
20 |
|
|
- |
Amortizable intangibles, net |
|
|
198,075 |
|
|
106,477 |
|
|
91,598 |
Total |
|
$ |
275,675 |
|
$ |
106,477 |
|
$ |
169,198 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross |
|
Less |
|
Net |
|
|
|
Carrying |
|
Accumulated |
|
Carrying |
|
|
|
Amount |
|
Amortization |
|
Amount |
December 31, 2018 |
|
|
|
|
|
|
|
|
|
Indefinite-lived intangibles: |
|
|
|
|
|
|
|
|
|
Trademark and tradenames |
|
$ |
77,600 |
|
$ |
- |
|
$ |
77,600 |
Amortizable intangibles: |
|
|
|
|
|
|
|
|
|
Dealer network |
|
|
80,000 |
|
|
59,000 |
|
|
21,000 |
Customer relationships |
|
|
80,920 |
|
|
16,607 |
|
|
64,313 |
Patents |
|
|
21,136 |
|
|
11,974 |
|
|
9,162 |
Noncompete agreements |
|
|
8,640 |
|
|
7,877 |
|
|
763 |
Trademarks |
|
|
5,459 |
|
|
3,619 |
|
|
1,840 |
Backlog |
|
|
1,900 |
|
|
1,900 |
|
|
- |
License |
|
|
20 |
|
|
20 |
|
|
- |
Amortizable intangibles, net |
|
|
198,075 |
|
|
100,997 |
|
|
97,078 |
Total |
|
$ |
275,675 |
|
$ |
100,997 |
|
$ |
174,678 |
|
|
|
|
|
|
|
|
|
|
Amortization expense for intangible assets was $2,739 and $2,866 for the three months ended June 30, 2019 and 2018, respectively. Amortization expense for intangible assets was $5,480 and $5,737 for the six months ended June 30, 2019 and 2018, respectively. Estimated amortization expense for the remainder of 2019 and each of the succeeding five years is as follows:
|
|
|
|
2019 |
|
$ |
5,477 |
2020 |
|
|
10,932 |
2021 |
|
|
10,670 |
2022 |
|
|
10,520 |
2023 |
|
|
10,520 |
2024 |
|
|
7,520 |
|