Intangible Assets (Notes)

12 Months Ended

Dec. 31, 2019

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets Disclosure [Text Block]

Intangible Assets, Net

The following table presents the detail of intangible assets for the periods presented (in thousands):

	Gross Carrying Value		Accumulated Amortization			Net Carrying Value
December 31, 2019:
Licenses	$	4,773	$	—		$	4,773
Leases	2,959		(1,084		)	1,875
Patents, trademarks, and other	1,287		(204		)	1,083
Total Intangibles	$	9,019	$	(1,288	)	$	7,731
December 31, 2018:
Licenses	$	4,773	$	—		$	4,773
Leases	2,959		(213		)	2,746
Patents, trademarks, and other	743		(191		)	552
Total Intangibles	$	8,475	$	(404	)	$	8,071

The Company acquired an insurance company in 2007, which originally included licenses in 23 states. These licenses were valued at $4.8 million. The Company is currently licensed in all 50 states, the District of Columbia and Puerto Rico. Most licenses are renewed annually upon payment of various fees assessed by the issuing state. Renewal costs are expensed as incurred. This is considered an indefinite-lived intangible asset given the planned renewal of the certificates of authority and applicable licenses for the foreseeable future.

The lease-related intangible assets relate to in-place lease agreements associated with the building acquisition in August 2018 and have a remaining weighted-average useful life of 3.4 years. Patents, trademarks, and other intangible assets have a remaining weighted-average useful life of 9.9 years.

Amortization expense associated with intangible assets was $0.9 million and $0.2 million for the years ended December 31, 2019 and 2018, respectively. There was no amortization expense associated with intangible assets in 2017.

As of December 31, 2019, expected amortization expense relating to purchased intangible assets for each of the next five years and thereafter is as follows (in thousands):

Year ending December 31:
2020	$	949
2021	714
2022	245
2023	245
2024	245
Thereafter	493
Total	$	2,891