INTANGIBLE ASSETS

6 Months Ended

Jun. 30, 2018

7.INTANGIBLE ASSETS

Intangible assets on the Company’s condensed consolidated balance sheets consist of the following (in thousands):

		June 30, 2018							December 31, 2017
	Life	Gross Amount		Accumulated amortization			Net Book Value		Gross Amount		Accumulated amortization			Net Book Value
Customer lists	8 - 17 years	$	42,200	$	(13,982	)	$	28,218	$	38,659	$	(12,721	)	$	25,938
Trade name	10 - 12 years	6,178		(3,042		)	3,136		6,213		(2,798		)	3,415
Design and technologies	10-12 years	5,024		(2,565		)	2,459		5,147		(2,443		)	2,704
Patents	17 years	24		(9		)	15		24		(8		)	16

Total		$	53,426	$	(19,598	)	$	33,828	$	50,043	$	(17,970	)	$	32,073

Intangible assets resulting from the acquisition of the Maval OE Steering business were approximately $3,700 (Note 2). The intangible assets acquired consist of customer lists (the valuation and useful life of which have not been finalized).

Amortization expense for intangible assets was $878 and $799 for the quarters ending June 30, 2018 and 2017, respectively. For the six months ended June 30, 2018 and 2017, amortization expense was $1,762 and $1,592, respectively.

Estimated future intangible asset amortization expense as of June 30, 2018 is as follows (in thousands):

	Estimated Amortization Expense
Remainder of 2018	$	1,747
2019	3,493
2020	3,493
2021	3,234
2022	3,234
2023	3,152
Thereafter	15,475

Total estimated amortization expense	$	33,828