Patents

9 Months Ended

Sep. 30, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Patents

Note 7: Patents

(in thousands)
December 31, 2019	$	1,151
Acquisitions		573
Abandonments		(68	)
Amortization		(158	)
December 31, 2020	$	1,498
Acquisitions		444
Amortization		(97	)
September 30, 2021	$	1,845

Patents and trademarks are stated at cost (primarily legal fees) and are amortized using the straight-line method of the estimated useful life of 17 years. The costs of provisional patents and pending applications are not amortized until they are filed. Patents are reviewed each reporting period to determine if it is likely that they will be successfully filed. The costs of provisional patents and pending applications for purposes of the amortization table below are estimated for each year.

Amortization of patents and trademarks for each of the next five years is as follows:

Period Ending December 31,
(in thousands)
2021	$	17
2022		140
2023		163
2024		185
2025		215
Thereafter		1,125
Total	$	1,845