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Intangibles
9 Months Ended
Sep. 30, 2021
Goodwill and Intangibles [Abstract]  
Intangibles

(8) Intangibles

 

Intangible assets consist of the following (in thousands):

 

 

 

 

 

 

Successor

 

 

 

Predecessor

 

 

 

 

 

 

September 30, 2021

 

 

 

December 31, 2020

 

 

 

Estimated

 

 

Gross

 

 

Accumulated

 

 

Net

 

 

 

Gross

 

 

Accumulated

 

 

Net

 

 

 

Useful Lives

 

 

Amount

 

 

Amortization

 

 

Balance

 

 

 

Amount

 

 

Amortization

 

 

Balance

 

Trade Names

 

 

10

 

 

$

4,166

 

 

$

(263

)

 

$

3,903

 

 

 

$

4,744

 

 

$

(4,263

)

 

$

481

 

Patents

 

 

10

 

 

 

2,120

 

 

 

(141

)

 

 

1,979

 

 

 

 

-

 

 

 

-

 

 

 

-

 

Customer Relationships

 

 

17

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

 

14,592

 

 

 

(10,077

)

 

 

4,515

 

Non-Compete Agreements

 

 

3

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

 

3,478

 

 

 

(3,478

)

 

 

-

 

Total

 

 

 

 

$

6,286

 

 

$

(404

)

 

$

5,882

 

 

 

$

22,814

 

 

$

(17,818

)

 

$

4,996

 

 

Amortization expense for the Successor Quarter and Prior Predecessor Quarter was $0.1 million and $0.5 million, respectively. For the Successor Period, Current Predecessor Period and Prior Predecessor Period amortization expense was $0.5 million, $0.1 million and $0.9 million, respectively. Based on the carrying values of intangible assets of September 30, 2021, amortization expense for the next five years (2021 through 2025) is estimated to be $0.2 million for the remainder of 2021 and $0.6 million for the years 2022 through 2025.

 

See Note 3 – “Fresh Start Accounting” for additional information.