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Intangible Assets
6 Months Ended
Jun. 30, 2018
Intangible Assets.  
Intangible Assets

6. Intangible Assets

 

The gross carrying amount and accumulated amortization of the Company’s acquired identifiable intangible assets as of June 30, 2018 are as follows (in thousands):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    

Weighted Average

 

 

 

    

 

 

    

 

 

 

 

 

Amortization

 

Gross Carrying

 

Accumulated

 

 

 

 

 

 

 Period

 

Amount

 

Amortizatin

 

Total

 

Acquired technology

 

9  years 

 

$

5,966

 

 

(1,881)

 

 

4,085

 

Customer relationships

 

10  years 

 

 

260

 

 

(110)

 

 

150

 

Trademark

 

5  years 

 

 

60

 

 

(45)

 

 

15

 

 

 

 

 

$

6,286

 

$

(2,036)

 

$

4,250

 

 

 

 

 

 

 

The gross carrying amount and accumulated amortization of the Company’s acquired identifiable intangible assets as of December 31, 2017 are as follows (in thousands):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    

Weighted Average

 

 

 

    

 

 

    

 

 

 

 

 

Amortization

 

Gross Carrying

 

Accumulated

 

 

 

 

 

 

 Period

 

Amount

 

Amortizatin

 

Total

 

Acquired technology

 

9  years 

 

$

5,200

 

$

(1,593)

 

$

3,607

 

Customer relationships

 

10  years 

 

 

260

 

 

(97)

 

 

163

 

Trademark

 

5  years 

 

 

60

 

 

(45)

 

 

15

 

 

 

 

 

$

5,520

 

$

(1,735)

 

$

3,785

 

 

The change in the gross carrying amount and accumulated amortization of the acquired technology from December 31, 2017 to June 30, 2018 is due to the acquisition of intellectual property from American Fuel Cell LLC in April 2018, as well as changes attributed to foreign currency translation.  As part of the agreement to acquire the intellectual property, the Company shall pay American Fuel Cell LLC milestone payments not to exceed $2.9 million in total, if certain milestones are met by April 2021.

 

Amortization expense for acquired identifiable intangible assets was $0.2 million and $0.1 million for the three months ended June 30, 2018 and 2017, respectively.   Amortization expense for acquired identifiable intangible assets was $0.3 million for each of the six month periods ended June 2018 and 2017. Estimated amortization expense for subsequent years is as follows (in thousands):

 

 

 

 

 

Remainder of 2018

    

$

350

2019

 

 

593

2020

 

 

557

2021

 

 

557

2022

 

 

557

2023 and thereafter

 

 

1,636

Total

 

$

4,250