INTANGIBLE ASSETS

9 Months Ended

Sep. 30, 2012

INTANGIBLE ASSETS

INTANGIBLE ASSETS

NOTE 4.  INTANGIBLE ASSETS

The major components of intangible assets are as follows:

	September 30,			December 31,
	2012			2011
	(in thousands)
Gross amortizable intangible assets:
Land rights	$	2,760		$	2,746
Patents	2,994			2,965
Technical know-how and other	5,823			5,785
Total gross amortizable intangible assets	11,577			11,496
Accumulated amortization:
Land rights	(101		)	(59		)
Patents	(2,781		)	(2,704		)
Technical know-how and other	(3,710		)	(3,235		)
Total accumulated amortization	(6,592		)	(5,998		)
Amortizable intangible assets, net	4,985			5,498
Intangible asset not subject to amortization	7,518			7,267
Intangible assets, net	$	12,503		$	12,765

Amortization expense related to these amortizable intangible assets was $0.2 million for the three months ended September 30, 2012 and 2011, and was $0.6 million for the nine months ended September 30, 2012 and 2011.

The intangible asset not subject to amortization represents the aggregate value of the trade name, trademarks and copyrights associated with the former worldwide operations of Bridgeport. We use the Bridgeport brand name on all of our machining center lines; therefore, the asset has been determined to have an indefinite useful life. The $0.2 million increase in the value of the assets from 2011 was the result of foreign currency exchange.