| Other Intangible Assets |
8. Other Intangible Assets
The following is a summary of the Company’s other intangible assets:
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Gross |
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Less |
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Net |
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Carrying |
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Accumulated |
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Carrying |
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Amount |
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Amortization |
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Amount |
December 31, 2020 |
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Indefinite-lived intangibles: |
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Trademark and tradenames |
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$ |
77,600 |
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$ |
- |
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$ |
77,600 |
Amortizable intangibles: |
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Dealer network |
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80,000 |
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67,000 |
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13,000 |
Customer relationships |
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80,920 |
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27,196 |
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53,724 |
Patents |
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21,136 |
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14,484 |
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6,652 |
Noncompete agreements |
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8,640 |
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8,477 |
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|
163 |
Trademarks |
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5,459 |
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3,807 |
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|
1,652 |
Amortizable intangibles, net |
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196,155 |
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120,964 |
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|
75,191 |
Total |
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$ |
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$ |
120,964 |
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$ |
152,791 |
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Gross |
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Less |
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Net |
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Carrying |
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Accumulated |
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Carrying |
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Amount |
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Amortization |
|
Amount |
December 31, 2019 |
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Indefinite-lived intangibles: |
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Trademark and tradenames |
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$ |
77,600 |
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$ |
- |
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$ |
77,600 |
Amortizable intangibles: |
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Dealer network |
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80,000 |
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63,000 |
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|
17,000 |
Customer relationships |
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|
80,920 |
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21,914 |
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|
59,006 |
Patents |
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21,136 |
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13,229 |
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|
7,907 |
Noncompete agreements |
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8,640 |
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8,177 |
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|
463 |
Trademarks |
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5,459 |
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|
3,713 |
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|
1,746 |
Backlog |
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|
1,900 |
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|
1,900 |
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- |
License |
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20 |
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20 |
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- |
Amortizable intangibles, net |
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198,075 |
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|
111,953 |
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|
86,122 |
Total |
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$ |
275,675 |
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$ |
111,953 |
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$ |
163,722 |
Amortization expense for intangible assets was $10,931, $10,956 and $11,472 for the years ended December 31, 2020, 2019 and 2018, respectively. Estimated amortization expense for the next five years is as follows:
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2021 |
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$ |
10,670 |
2022 |
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10,520 |
2023 |
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10,520 |
2024 |
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7,520 |
2025 |
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6,075 |
The weighted average remaining life for intangible assets is 9.0 years at December 31, 2020.
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