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INTANGIBLE ASSETS
9 Months Ended
Sep. 30, 2022
INTANGIBLE ASSETS  
INTANGIBLE ASSETS

7.    INTANGIBLE ASSETS

Intangible assets on the Company’s condensed consolidated balance sheets consist of the following:

September 30, 2022

December 31, 2021

    

    

Gross

    

Accumulated

    

Net Book

    

Gross

    

Accumulated

    

Net Book

Life

Amount

Amortization

Value

Amount

Amortization

Value

Customer lists

 

5 - 18 years

$

111,200

$

(32,104)

$

79,096

$

94,079

$

(27,639)

$

66,440

Trade name

 

10 - 19 years

 

15,040

 

(6,549)

 

8,491

 

14,649

 

(5,927)

 

8,722

Design and technologies

 

10 - 15 years

 

40,543

 

(7,357)

 

33,186

 

34,241

 

(5,617)

 

28,624

Total

$

166,783

$

(46,010)

$

120,773

$

142,969

$

(39,183)

$

103,786

Intangible assets resulting from the acquisition of FPH, ThinGap and Airex were $28,611 (Note 2). The intangible assets acquired consist of customer lists, technology, and tradenames.

Amortization expense for intangible assets was $3,054 and $1,504 for the three months ended September 30, 2022 and 2021, respectively. For the nine months ended September 30, 2022 and 2021, amortization expense was $8,133 and $4,527, respectively.

Estimated future intangible asset amortization expense as of September 30, 2022 is as follows:

Estimated

    

Amortization Expense

Remainder of 2022

$

3,030

2023

 

12,115

2024

 

11,792

2025

11,777

2026

 

11,681

2027

11,238

Thereafter

 

59,140

Total estimated amortization expense

$

120,773