Quarterly report pursuant to Section 13 or 15(d)

Note 8 - Other Intangible Assets

v3.22.2
Note 8 - Other Intangible Assets
6 Months Ended
Jun. 30, 2022
Notes to Financial Statements  
Intangible Assets Disclosure [Text Block]

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, 2022

                       

Indefinite-lived intangibles:

                       

Trademark and tradenames

  $ 77,600     $ -     $ 77,600  

Amortizable intangibles:

                       

Dealer network

    80,000       73,000       7,000  

Customer relationships

    80,920       34,951       45,969  

Patents

    21,136       16,367       4,769  

Noncompete agreements

    8,640       8,640       -  

Trademarks

    5,459       3,948       1,511  

Amortizable intangibles, net

    196,155       136,906       59,249  

Total

  $ 273,755     $ 136,906     $ 136,849  

 

   

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  

 ​

Amortization expense for intangible assets was $2,630 and $2,705 for the three months ended June 30, 2022 and 2021, respectively. Amortization expense for intangible assets was $5,260 and $5,410 for the six months ended June 30, 2022 and 2021, respectively. Estimated amortization expense for the remainder of 2022 and each of the succeeding five years is as follows:

 ​

2022

  $ 5,260  

2023

    10,520  

2024

    7,520  

2025

    6,075  

2026

    5,450  

2027

    5,450