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Intangible Assets, Net
9 Months Ended
Sep. 30, 2021
Intangible Assets, Net (Excluding Goodwill) [Abstract]  
Intangible Assets, Net

6. INTANGIBLE ASSETS, NET

The following table provides information pertaining to the Company’s intangible asset as of:

 

 

 

 

 

 

 

 

 

 

(in thousands)

 

Useful lives

 

September 30, 2021

 

 

December 31, 2020

 

Customer relationships

 

15 years

 

$

3,007

 

 

$

3,007

 

Accumulated amortization

 

 

 

 

(2,219

)

 

 

(2,068

)

 

 

 

 

 

788

 

 

 

939

 

Trademarks

 

Indefinite

 

 

3,000

 

 

 

3,000

 

 

 

 

 

$

3,788

 

 

$

3,939

 

 

For the three months ended September 30, 2021 and 2020, total amortization expense amounted to approximately $50,000 for each of the periods then ended. For the nine months ended September 30, 2021 and 2020, total amortization expense amounted to $0.2 million for each of the periods then ended. No impairment losses have been recorded on any of the Company’s intangible assets for the nine months ended September 30, 2021 and 2020.

Amortization expense for intangible assets with definite lives is expected to be as follows:

 

(in thousands)

 

 

Remainder of 2021

$

51

 

2022

200

 

2023

200

 

2024

200

 

2025

134

 

Thereafter

3

 

Expected amortization expense for intangible assets with definite lives

$

788