Quarterly report pursuant to Section 13 or 15(d)

Note 8 - Other Intangible Assets

v3.22.2.2
Note 8 - Other Intangible Assets
9 Months Ended
Sep. 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

 

September 30, 2022

                       

Indefinite-lived intangibles:

                       

Trademark and tradenames

  $ 77,600     $ -     $ 77,600  

Amortizable intangibles:

                       

Dealer network

    80,000       74,000       6,000  

Customer relationships

    80,920       36,244       44,676  

Patents

    21,136       16,680       4,456  

Noncompete agreements

    8,640       8,640       -  

Trademarks

    5,459       3,972       1,487  

Amortizable intangibles, net

    196,155       139,536       56,619  

Total

  $ 273,755     $ 139,536     $ 134,219  

 

   

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 $2,642 for the three months ended September 30, 2022 and 2021, respectively. Amortization expense for intangible assets was $7,890 and $8,052 for the nine months ended September 30, 2022 and 2021, respectively. Estimated amortization expense for the remainder of 2022 and each of the succeeding five years is as follows:

 ​

2022

  $ 2,630  

2023

    10,520  

2024

    7,520  

2025

    6,075  

2026

    5,450  

2027

    5,450