Other Intangible Assets

6 Months Ended

Jun. 30, 2022

Other Intangible Assets

Goodwill And Intangible Assets

7. Other Intangible Assets

A reconciliation of the beginning and ending balances of intangible assets and accumulated amortization during the six months ended June 30, 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-June 30, 2022	$	3,258		$	37,707	$	40,965
Accumulated Amortization
Balance-December 31, 2021	$	(209	)	$	-	$	(209	)
Amortization		(163	)		-		(163	)
Balance-June 30, 2022	$	(372	)	$	-	$	(372	)
Net Book Value
June 30, 2022	$	2,886		$	37,707	$	40,593
Net Book Value
December 31, 2021	$	3,049		$	37,707	$	40,756

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 $163, and $14 for the six months ended June 30, 2022, and 2021, respectively.

The Company estimates that amortization expense for our existing other intangible assets will be approximately $220 annually for each of the next five 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.