INTANGIBLE ASSETS

3 Months Ended

Mar. 31, 2022

INTANGIBLE ASSETS

Goodwill And Intangible Assets

7. INTANGIBLE ASSETS

Intangible Assets

A reconciliation of the beginning and ending balances of intangible assets and accumulated amortization during the three months ended March 31, 2022 and intangible assets, net as of December 31, 2021 are as follows:

	Definite Life Intangibles			Indefinite Life Intangibles
	Technology/			Brands &
(in thousands)	Know How			Tradenames		Total
Costs
Balance—December 31, 2021	$	3,258		$	37,707	$	40,965
Business acquisition		-			-		-
Agreement termination		-			-		-
Balance—March 31, 2022	$	3,258		$	37,707	$	40,965
Accumulated Amortization
Balance—December 31, 2021	$	(209	)	$	-	$	(209	)
Agreement termination		-			-		-
Amortization		(82	)		-		(82	)
Other		-			-		-
Balance—March 31, 2022	$	(291	)	$	-	$	(291	)
Net Book Value
December 31, 2021	$	3,049		$	37,707	$	40,756
Net Book Value
March 31, 2022	$	2,967		$	37,707	$	40,674

Intangible assets with finite lives are amortized over their estimated useful lives. Amortization periods of assets with finite lives are based on management’s estimates at the date of acquisition. The Company recorded amortization expense of $82 and $9 for the three months ended March 31, 2022, and 2021, respectively.

The Company estimates that amortization expense for our existing other intangible assets will be approximately $325 annually for each of the next ten fiscal years. Actual amortization expense to be reported in future periods could differ from these estimates as a result of new intangible asset acquisitions, changes in useful lives or other relevant factors or changes.