Quarterly report pursuant to Section 13 or 15(d)

Note 8 - Other Intangible Assets

v3.23.2
Note 8 - Other Intangible Assets
6 Months Ended
Jun. 30, 2023
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, 2023

                       

Indefinite-lived intangibles:

                       

Trademark and tradenames

  $ 77,600     $ -     $ 77,600  

Amortizable intangibles:

                       

Dealer network

    80,000       77,000       3,000  

Customer relationships

    80,920       40,122       40,798  

Patents

    21,136       17,622       3,514  

Noncompete agreements

    8,640       8,640       -  

Trademarks

    5,459       4,042       1,417  

Amortizable intangibles, net

    196,155       147,426       48,729  

Total

  $ 273,755     $ 147,426     $ 126,329  

 

   

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 $2,630 and $2,630 for the three months ended June 30, 2023 and 2022, respectively. Amortization expense for intangible assets was $5,260 and $5,260 for the six months ended June 30, 2023 and 2022, respectively. Estimated amortization expense for the remainder of 2023 and each of the succeeding five years is as follows:

 ​

2023

  $ 5,260  

2024

    7,520  

2025

    6,075  

2026

    5,450  

2027

    5,450  

2028

    5,450