Intellectual Property

12 Months Ended

Dec. 31, 2013

Goodwill and Intangible Assets Disclosure [Abstract]

Intellectual Property

9. Intellectual Property

In 2009, the Company purchased certain patents from an affiliated company for $5 million in cash and concurrently terminated a license agreement related to the patents. Intellectual Property consisted of the following:

	December 31,		December 31,
	2013		2012
	(In thousands)
Patents	$	5,000	$	5,000
Accumulated amortization		(2,259)		(1,759)
Intellectual property, net	$	2,741	$	3,241

Amortization expense was $500,004 for the years ended December 31, 2013 and 2012. At December 31, 2013, the estimated amortization expense for each of the five succeeding years is approximately $500,000 per year. The patent expiration dates begin in 2027.