Other Intangible Assets
|12 Months Ended|
Dec. 31, 2017
|Other Intangible Assets|
|Other Intangible Assets||
6. Other Intangible Assets
The following is a summary of the Company’s other intangible assets:
Amortization expense for intangible assets was $11,401, $10,596 and $7,362 for the years ended December 31, 2017, 2016 and 2015, respectively. Estimated amortization expense for the next five years is as follows:
The weighted average remaining life for intangible assets is 11.3 years at December 31, 2017.
The Company relies on a combination of patents, trade secrets and trademarks to protect certain of the proprietary aspects of its business and technology. In the year ended December 31, 2017, the Company received a settlement resulting from an ongoing lawsuit with one of its competitors that had been ordered to stop using the Company’s intellectual property. Under the settlement agreement the Company received $1,275 as part of defending its intellectual property. In the year ended December 31, 2016, the Company received a settlement resulting from an ongoing lawsuit with another of its competitors. Previously under the same lawsuit the competitor was required to stop using the Company’s intellectual property. Under the settlement agreement the Company received $10,050 as part of defending its intellectual property. The proceeds of the lawsuits are included on the Consolidated Statements of Operations and Comprehensive Income as Litigation proceeds.
The entire disclosure for all or part of the information related to intangible assets.
Reference 1: http://www.xbrl.org/2003/role/presentationRef