Intangibles

3 Months Ended

Mar. 31, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Intangibles

The company's intangibles consist of the following (in thousands):


	March 31, 2022				December 31, 2021
	Historical Cost		Accumulated Amortization		Historical Cost		Accumulated Amortization
Customer lists	$	52,145	$	52,145	$	52,447	$	52,447
Trademarks	23,999		—		24,137		—
Developed technology	7,597		7,145		7,652		7,149
Patents	5,558		5,558		5,543		5,543
License agreements	2,915		1,259		2,905		1,196
Other	1,149		1,140		1,147		1,140
Intangibles	$	93,363	$	67,247	$	93,831	$	67,475

All the company’s intangible assets have been assigned definite lives and continue to be amortized over their useful lives, except for trademarks shown above, which have indefinite lives.

The changes in intangible balances reflected on the balance sheet from December 31, 2021 to March 31, 2022 were the result of foreign currency translation on historical cost and accumulated amortization.

The company evaluates the carrying value of definite-lived assets annually in the fourth quarter and whenever events or circumstances indicate possible impairment.

Definite-lived assets are determined to be impaired if the future undiscounted cash flows expected to be generated by the asset are less than the carrying value. Actual impairment amounts for definite-lived assets are then calculated using a discounted cash flow calculation.

Any impairment for indefinite-lived intangible assets is calculated as the difference between the future discounted cash flows expected to be generated by the asset less than the carrying value for the asset.

Amortization expense related to intangible assets was $99,000 in the first three months of 2022 and is expected to be $394,000 in 2022, $394,000 in 2023, $352,000 in 2024, $213,000 in 2025, $211,000 in 2026 and $211,000 in

2027. Amortized intangible assets are being amortized on a straight-line basis over remaining lives of 3 to 8 years with a weighted average remaining life of approximately 6.7 years.