Goodwill And Intangible Assets

12 Months Ended

Dec. 31, 2019

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets

Goodwill and Intangible Assets

Total goodwill was $0.9 million at December 31, 2019 and 2018. We completed our annual impairment tests as of December 31, 2019 and 2018, and determined that no adjustment for impairment of goodwill was required during the years ended December 31, 2019 and 2018.

We entered into global licensing agreements for certain patents covering our Triferic products. We received FDA approval for Dialysate Triferic in January 2015. We have capitalized the licensing fees paid for the rights to use this patented technology as an intangible asset.

	2019			2018
Capitalized Licensing Fees	$	1,070,126		$	1,070,126
Accumulated Amortization	(1,066,804		)	(1,066,451		)
Capitalized Licensing Fees, Net of Amortization	$	3,322		$	3,675
Amortization Expense	$	353		$	353

Our policy is to amortize licensing fees over the life of the patents pertaining to certain licensing agreements and to amortize patent costs over the life of the patent. Amortization expense was $353 for capitalized patent costs for each of the years ended December 31, 2019 and 2018, respectively.