Intangibles

3 Months Ended

Mar. 31, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Intangibles

The company's intangibles consist of the following (in thousands):



	March 31, 2020				December 31, 2019
	Historical Cost		Accumulated Amortization		Historical Cost		Accumulated Amortization
Customer lists	$	50,753	$	50,753	$	51,108	$	51,108
Trademarks	23,328		—		23,479		—
Developed technology	7,480		6,681		7,483		6,642
Patents	5,452		5,452		5,521		5,521
License agreements	2,823		744		2,884		770
Other	1,161		1,150		1,163		1,150
Intangibles	$	90,997	$	64,780	$	91,638	$	65,191

All the company’s intangible assets have been assigned definite lives and continue to be amortized over their useful lives, except for trademarks shown above, which have indefinite lives. The changes in intangible balances reflected on the balance sheet from December 31, 2019 to March 31, 2020 were the result of foreign currency translation and amortization.

The company evaluates the carrying value of definite-lived assets annually in the fourth quarter and whenever events or circumstances indicate possible impairment. In consideration of the negative impact of COVID-19 on the global economy, the company performed a review of intangibles for impairment in the first quarter of 2020 and concluded there was no impairment to be recorded. Definite-lived assets are determined to be impaired if the future un-discounted cash flows expected to be generated by the asset are less than the carrying value. Actual impairment amounts for definite-lived assets are then calculated using a discounted cash flow calculation.

Any impairment amounts for indefinite-lived assets are calculated as the difference between the future discounted cash flows expected to be generated by the asset less than the carrying value for the asset.

Amortization expense related to intangibles was $80,000 in the first three months of 2020 and is estimated to be $371,000 in 2020, $390,000 in 2021, $390,000 in 2022, $390,000 in 2023, $352,000 in 2024 and $213,000 in 2025. Amortized intangibles are being amortized on a straight-line basis over remaining lives of 1 to 10 years with most of the intangibles being amortized over an average remaining life of approximately 7 years.