XML 28 R17.htm IDEA: XBRL DOCUMENT v3.22.2
Intangible Assets
 6 Months Ended
Jun. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]  
Intangible Assets Intangible Assets
Intangible assets consist of patents, which management evaluates to determine whether they (i) support current products, (ii) support planned research and development, or (iii) prevent others from competing with Gevo's products.

The following table sets forth the Company’s identifiable intangible assets by classification (in thousands) as of:
 June 30, 2022
 Gross Carrying AmountAccumulated AmortizationIdentifiable Intangible Assets, NetWeighted-Average Useful Life (Years)
Patents$4,580 $(664)$3,916 7.3
Defensive assets4,900 (452)4,448 8.4
Identifiable intangible assets$9,480 $(1,116)$8,364 7.9
December 31, 2021
Gross Carrying AmountAccumulated AmortizationIdentifiable Intangible Assets, NetWeighted-Average Useful Life (Years)
Patents$4,575 $(368)$4,207 7.3
Defensive assets4,895 (164)4,731 8.4
Identifiable intangible assets$9,470 $(532)$8,938 7.9

The Company recorded amortization expense of $0.3 million and $0.6 million for the three and six months ended June 30, 2022, respectively, as compared with nil and nil for the same periods ended June 30, 2021.

The following table details the estimated amortization of identifiable intangible assets as of June 30, 2022 (in thousands):
Year ending December 31,PatentsDefensive AssetsTotal
2022 (remaining)$304 $297 $601 
2023599 586 1,185 
2024601 588 1,189 
2025599 586 1,185 
2026585 586 1,171 
2027 and thereafter1,228 1,805 3,033 
Total$3,916 $4,448 $8,364