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INTANGIBLE ASSETS (Tables)
12 Months Ended
Dec. 31, 2019
Intangible Assets [Abstract]  
Summary of Intangible Assets

Intangible assets are summarized as follows:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Gross

 

 

 

 

 

 

 

    

Useful Lives

    

 Carrying

    

Accumulated

    

Net Carrying

December 31, 2019

 

(Years)

 

Amount

 

Amortization

 

Amount

 

 

 

 

(in thousands)

Finite-lived intangible assets:

 

  

 

 

  

 

 

  

 

 

  

Trademarks

 

5 - 15

 

$

12,491

 

$

(4,515)

 

$

7,976

Customer agreements

 

4

 

 

2,200

 

 

(2,198)

 

 

 2

Patents

 

10

 

 

95

 

 

(64)

 

 

31

 

 

  

 

$

14,786

 

$

(6,777)

 

 

8,009

Indefinite-lived intangible assets:

 

  

 

 

  

 

 

  

 

 

 

Trademarks

 

  

 

 

  

 

 

  

 

 

591,958

Intangible assets, net

 

  

 

 

  

 

 

  

 

$

599,967

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Gross

 

 

 

 

 

 

 

    

Useful Lives

    

 Carrying

    

Accumulated

    

Net Carrying

December 31, 2018

 

(Years)

 

Amount

 

Amortization

 

Amount

 

 

 

 

(in thousands)

Finite-lived intangible assets:

 

  

 

 

  

 

 

  

 

 

  

Trademarks

 

5 - 15

 

$

12,438

 

$

(2,689)

 

$

9,749

Customer agreements

 

4

 

 

2,200

 

 

(2,147)

 

 

53

Patents

 

10

 

 

361

 

 

(321)

 

 

40

 

 

  

 

$

14,999

 

$

(5,157)

 

 

9,842

Indefinite-lived intangible assets:

 

  

 

 

  

 

 

  

 

 

  

Trademarks

 

  

 

 

  

 

 

  

 

 

624,985

Intangible assets, net

 

  

 

 

  

 

 

  

 

$

634,827

 

Summary of Future Annual Estimated Amortization Expense

Future annual estimated amortization expense is summarized as follows:

 

 

 

 

Years Ended December 31, 

    

(in thousands)

2020

 

$

1,839

2021

 

 

1,837

2022

 

 

1,814

2023

 

 

1,388

2024

 

 

326

Thereafter

 

 

805

 

 

$

8,009

 

Schedule of Indefinite-lived Assets

 

 

 

 

Balance at January 1, 2019

    

$

624,985

Additions

 

 

82

Impairment charges

 

 

(33,109)

Balance at December 31, 2019

 

$

591,958

 


 

 

 

 

Balance at January 1, 2018

    

$

660,789

Additions

 

 

216

Impairment charges

 

 

(17,899)

Reclassified to finite-lived intangible assets

 

 

(6,951)

Sale of trademarks

 

 

(11,170)

Ending balance at December 31, 2018

 

$

624,985