Intangible asset

12 Months Ended

Dec. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

The Company has the following intangible assets (in thousands):


	As of December 31, 2023
	Amortization Period	Gross Carrying Amount		Accumulated Amortization		Net
Capitalized manufacturing costs	8 years	$	258,304	$	(37,561)	$	220,743
		$	258,304	$	(37,561)	$	220,743


	As of December 31, 2022
	Amortization Period	Gross Carrying Amount		Accumulated Amortization		Net
Capitalized manufacturing costs	8 years	$	252,304	$	(5,257)	$	247,047
		$	252,304	$	(5,257)	$	247,047

The amount of capitalized manufacturing costs includes platform licensing costs paid to Magna and the value of warrants granted to Magna related to the commercialization of the Fisker Ocean. See Note 14 for additional information on the Magna warrants.

The Company amortizes these capitalized costs over the expected life of the current contractual arrangements, which began upon initial production in the fourth quarter of 2022. Amortization expense of capitalized manufacturing costs for the years ended December 31, 2023 and 2022 was $32.3 million and $5.3 million, respectively, and was considered in the valuation of our finished goods inventory. The Company will continually assess the reasonableness of the estimated life and consider the extent to which the Company enters into new arrangements that extend the estimated useful life.

Estimated aggregate amortization expense for future years is as follows (in thousands):


	Amount
2024	$	32,304
2025	32,304
2026	32,304
2027	32,304
2028	32,304
Thereafter	59,223
	$	220,743