Definite- and Indefinite-Lived Intangible Assets

12 Months Ended

Dec. 31, 2017

Goodwill and Intangible Assets Disclosure [Abstract]

DEFINITE- AND INDEFINITE-LIVED INTANGIBLE ASSETS

The following is a summary of both the Company's definite- and indefinite-lived intangible assets net of the accumulated amortization:



(in thousands)	Estimated Useful Lives	December 31, 2017				December 31, 2016
Definite:
Trade names and trademarks	25 years		$	25,574			$	21,914
Customer and dealer relationships	10-14 years		31,356				28,822
Patents and drawings	3-12 years		1,982				1,954
Total at cost			58,912				52,690
Less accumulated amortization			(11,540		)		(8,152		)
Total net			47,372				44,538
Indefinite:
Trade names and trademarks			5,500				5,500
Total Intangible Assets			$	52,872			$	50,038

The Company's net carrying value at December 31, 2017 of intangible assets with definite useful lives consists of trade names and trademarks at $22,331,000, customer and dealer relationships at $23,657,000, and patents and drawings at $1,384,000. As of December 31, 2017, the related accumulated amortization balance for the definite- lived assets were $3,243,000 for trade names and trademarks, $7,699,000 for customer and dealer relationships, and $598,000 for patents and drawings. The Company estimates amortization expense to be $3,500,000 for each of the next five years.

Indefinite-lived trade names and trademarks consisted of the Gradall trade name with a carrying value of $3,600,000 and the Bush Hog trade name with a carrying value of $1,900,000.