| Other Intangible Assets |
l
8. Other Intangible Assets
The following is a summary of the Company’s other intangible assets:
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|
|
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Gross |
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Less |
|
Net |
|
|
|
Carrying |
|
Accumulated |
|
Carrying |
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|
|
Amount |
|
Amortization |
|
Amount |
March 31, 2022 |
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|
|
|
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|
|
|
Indefinite-lived intangibles: |
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|
|
|
|
|
|
|
|
Trademark and tradenames |
|
$ |
77,600 |
|
$ |
- |
|
$ |
77,600 |
Amortizable intangibles: |
|
|
|
|
|
|
|
|
|
Dealer network |
|
|
80,000 |
|
|
72,000 |
|
|
8,000 |
Customer relationships |
|
|
80,920 |
|
|
33,659 |
|
|
47,261 |
Patents |
|
|
21,136 |
|
|
16,053 |
|
|
5,083 |
Noncompete agreements |
|
|
8,640 |
|
|
8,640 |
|
|
- |
Trademarks |
|
|
5,459 |
|
|
3,924 |
|
|
1,535 |
Amortizable intangibles, net |
|
|
196,155 |
|
|
134,276 |
|
|
61,879 |
Total |
|
$ |
273,755 |
|
$ |
134,276 |
|
$ |
139,479 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross |
|
Less |
|
Net |
|
|
|
Carrying |
|
Accumulated |
|
Carrying |
|
|
|
Amount |
|
Amortization |
|
Amount |
December 31, 2021 |
|
|
|
|
|
|
|
|
|
Indefinite-lived intangibles: |
|
|
|
|
|
|
|
|
|
Trademark and tradenames |
|
$ |
77,600 |
|
$ |
- |
|
$ |
77,600 |
Amortizable intangibles: |
|
|
|
|
|
|
|
|
|
Dealer network |
|
|
80,000 |
|
|
71,000 |
|
|
9,000 |
Customer relationships |
|
|
80,920 |
|
|
32,366 |
|
|
48,554 |
Patents |
|
|
21,136 |
|
|
15,739 |
|
|
5,397 |
Noncompete agreements |
|
|
8,640 |
|
|
8,640 |
|
|
- |
Trademarks |
|
|
5,459 |
|
|
3,901 |
|
|
1,558 |
Amortizable intangibles, net |
|
|
196,155 |
|
|
131,646 |
|
|
64,509 |
Total |
|
$ |
273,755 |
|
$ |
131,646 |
|
$ |
142,109 |
|
|
|
|
|
|
|
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Amortization expense for intangible assets was $2,630 and $2,705 for the three months ended March 31, 2022 and 2021 respectively. Estimated amortization expense for the remainder of 2022 and each of the succeeding five years is as follows:
|
|
|
|
2022 |
|
$ |
7,890 |
2023 |
|
|
10,520 |
2024 |
|
|
7,520 |
2025 |
|
|
6,075 |
2026 |
|
|
5,450 |
2027 |
|
|
5,450 |
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