Douglas Dynamics, Inc. Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

Note 7 - Other Intangible Assets

Note 7 - Other Intangible Assets

12 Months Ended

Dec. 31, 2023

Notes to Financial Statements

Intangible Assets Disclosure [Text Block]

7. Other Intangible Assets

The following is a summary of the Company’s other intangible assets:

	*Gross*		*Less*		*Net*
	*Carrying*		*Accumulated*		*Carrying*
	*Amount*		*Amortization*		*Amount*
December 31, 2023
Indefinite-lived intangibles:
Trademark and tradenames	$	77,600	$	-	$	77,600
Amortizable intangibles:
Dealer network		80,000		79,000		1,000
Customer relationships		80,920		42,707		38,213
Patents		21,136		18,249		2,887
Noncompete agreements		8,640		8,640		-
Trademarks		5,459		4,089		1,370
Amortizable intangibles, net		196,155		152,685		43,470
Total	$	273,755	$	152,685	$	121,070

	*Gross*		*Less*		*Net*
	*Carrying*		*Accumulated*		*Carrying*
	*Amount*		*Amortization*		*Amount*
December 31, 2022
Indefinite-lived intangibles:
Trademark and tradenames	$	77,600	$	-	$	77,600
Amortizable intangibles:
Dealer network		80,000		75,000		5,000
Customer relationships		80,920		37,537		43,383
Patents		21,136		16,994		4,142
Noncompete agreements		8,640		8,640		-
Trademarks		5,459		3,995		1,464
Amortizable intangibles, net		196,155		142,166		53,989
Total	$	273,755	$	142,166	$	131,589

Amortization expense for intangible assets was $10,520, $10,520 and $10,682 for the years ended December 31, 2023, 2022 and 2021, respectively. Estimated amortization expense for the next five years is as follows:

2024			7,520
2025			6,075
2026			5,450
2027			5,450
2028			5,450

The weighted average remaining life for intangible assets is 7.2 years at December 31, 2023.