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Trademarks and Other Intangibles
12 Months Ended
Dec. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]  
Trademarks and Other Intangibles

4.   Trademarks and Other Intangibles

Trademarks and other intangibles, net consist of the following:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    

Weighted

    

 

 

    

 

 

    

 

 

 

 

Average

 

December 31, 2019

 

 

Amortization

 

Gross Carrying

 

Accumulated

 

Net Carrying

($ in thousands)

 

Period

 

Amount

 

Amortization

 

Amount

Trademarks (indefinite-lived)

 

n/a

 

$

62,900

 

$

 —

 

$

62,900

Trademarks (finite-lived)

 

15 years

 

 

16,213

 

 

4,560

 

 

11,653

Trademarks (finite-lived)

 

18 years

 

 

38,194

 

 

2,067

 

 

36,127

Other intellectual property

 

7 years

 

 

762

 

 

428

 

 

334

Copyrights and other intellectual property

 

10 years

 

 

190

 

 

109

 

 

81

Total

 

 

 

$

118,259

 

$

7,164

 

$

111,095

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    

Weighted

    

 

 

    

 

 

    

 

 

 

 

Average

 

December 31, 2018

 

 

Amortization

 

Gross Carrying

 

Accumulated

 

Net Carrying

($ in thousands)

 

Period

 

Amount

 

Amortization

 

Amount

Trademarks (indefinite-lived)

 

n/a

 

$

96,707

 

$

 —

 

$

96,707

Trademarks (finite-lived)

 

15 years

 

 

15,463

 

 

3,521

 

 

11,942

Other intellectual property

 

7 years

 

 

561

 

 

321

 

 

240

Copyrights and other intellectual property

 

10 years

 

 

190

 

 

90

 

 

100

Total

 

  

 

$

112,921

 

$

3,932

 

$

108,989

 

As of December 31, 2019, the Company recorded a non-cash impairment charge of $6.2 million related to the Ripka Brand trademarks, driven by the timing of the continued transition from a licensing model to a wholesale and direct to consumer model.  No other intangible asset impairment charges were recorded for the years ended December 31, 2019 and 2018.

Amortization expense for intangible assets for the years ended December 31, 2019 and 2018 was approximately $3.2 million and $1.1 million, respectively.

The trademarks of the Isaac Mizrahi Brand and the Ripka Brand have been determined to have indefinite useful lives and accordingly, no amortization has been recorded for those intangible assets.

Effective January 1, 2019, and in consideration of the acquisition of the Halston and Halston Heritage trademarks in February 2019, the Company determined that the Halston brand, inclusive of all of its trademarks, including H Halston, and H by Halston, has a finite life of eighteen (18) years, and began amortizing those assets on a straight-line basis accordingly. Prior to January 1, 2019, the H Halston and H by Halston assets were considered indefinite-lived assets.

Estimated future amortization expense related to finite-lived intangible assets over the remaining useful lives is as follows:

 

 

 

 

 

($ in thousands)

 

Amortization

Year Ending December 31, 

    

Expense

2020

 

$

3,334

2021

 

 

3,334

2022

 

 

3,334

2023

 

 

3,334

2024

 

 

3,320

Thereafter

 

 

31,539

Total

 

$

48,195