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Intangible Assets
3 Months Ended
Mar. 31, 2019
Intangible Assets  
Intangible Assets

6. Intangible Assets

 

The gross carrying amount and accumulated amortization of the Company’s acquired identifiable intangible assets as of March 31, 2019 are as follows (in thousands):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted Average

 

Gross Carrying

 

Accumulated

 

 

 

 

 

 

Amortization Period

 

Amount

 

Amortization

 

Total

 

Acquired technology

 

9  years 

 

$

5,861

 

$

(2,314)

 

$

3,547

 

Customer relationships

 

10  years 

 

 

260

 

 

(130)

 

 

130

 

Trademark

 

5  years 

 

 

60

 

 

(60)

 

 

 —

 

 

 

 

 

$

6,181

 

$

(2,504)

 

$

3,677

 

 

The gross carrying amount and accumulated amortization of the Company’s acquired identifiable intangible assets as of December 31, 2018 are as follows (in thousands):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted Average

 

Gross Carrying

 

Accumulated

 

 

 

 

 

 

Amortization Period

 

Amount

 

Amortization

 

Total

 

Acquired technology

 

9  years 

 

$

5,926

 

$

(2,176)

 

$

3,750

 

Customer relationships

 

10  years 

 

 

260

 

 

(123)

 

 

137

 

Trademark

 

5  years 

 

 

60

 

 

(57)

 

 

 3

 

 

 

 

 

$

6,246

 

$

(2,356)

 

$

3,890

 

 

The change in the gross carrying amount and accumulated amortization of the acquired technology from December 31, 2018 to March 31, 2019 is due to changes attributed to foreign currency translation. 

 

As part of the agreement to acquire the intellectual property from American Fuel Cell, the Company shall pay American Fuel Cell LLC milestone payments not to exceed $2.9 million in total, if certain milestones associated with the production of components related to the acquired technology are met before April 2021. As of March 31, 2019 these milestones have not yet been reached.

 

Amortization expense for acquired identifiable intangible assets was $0.2 million for both the three months ended March 31, 2019 and 2018. Estimated amortization expense for subsequent years is as follows (in thousands):

 

 

 

 

 

Remainder of 2019

    

$

410

2020

 

 

546

2021

 

 

546

2022

 

 

546

2023

 

 

546

2024 and thereafter

 

 

1,083

Total

 

$

3,677