Patents and Licenses

9 Months Ended

Sep. 30, 2023

Patents and Licenses

Patents And Licenses

(5)

Patents and Licenses

Patents and license fees paid for the use of other entities’ patents are amortized over the useful life of the patent or license. The following tables provide information regarding patents and licenses (dollars in thousands):

September 30, 2023						December 31, 2022
Weighted Average Original Life (years)		Gross Carrying Amount		Accumulated Amortization		Weighted Average Original Life (years)		Gross Carrying Amount		Accumulated Amortization
	15.67	$	13,840	$	12,740		15.67	$	13,840	$	12,655

Aggregated amortization expense for patents and licenses was $28 thousand in the three-month period ended September 30, 2023 and $29 thousand in the three month period ended September 30, 2022. Aggregated amortization expense for patents and licenses was $85 thousand in the nine-month period ended September 30, 2023 and $89 thousand in the nine-month period ended September 30, 2022.

Estimated future amortization expense for each of the years set forth below ending December 31 is as follows (in thousands):

2024	$	113
2025	$	112
2026	$	112
2027	$	108
2028	$	108