Patents, and Trademark Rights, Net

9 Months Ended

Sep. 30, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Patents, and Trademark Rights, Net

Note 7: Patents, and Trademark Rights, Net

The table below presents the changes in patent and trademark rights (in thousands):

December 31, 2022	$	1,941
Acquisitions		377
Abandonments and expirations		(14	)
Amortization		(150	)
September 30, 2023	$	2,154

Patents and trademarks are stated at cost. Patents and trademarks are amortized using the straight-line method over an estimated useful life of 17 years and 10 years, respectively.

Amortization of patents and trademarks for each of the next five years and thereafter is as follows (in thousands):

Year Ending December 31,
2023	$	58
2024		225
2025		217
2026		215
2027		194
Thereafter		1,245
Total	$	2,154