GOODWILL AND OTHER INTANGIBLE ASSETS (Tables)

12 Months Ended

Dec. 31, 2021

GOODWILL AND OTHER INTANGIBLE ASSETS

Schedule of other intangible assets

	December 31, 2021						December 31, 2020
			Accumulated		Net book				Accumulated		Net book
	Cost		amortization		value		Cost		amortization		value
Other intangible assets:
Customer relationships (1)	$	6,495,000	$	3,545,000	$	2,950,000	$	6,502,000	$	3,034,000	$	3,468,000
Trademarks and trade names (1)		2,187,000		—		2,187,000		2,187,000		—		2,187,000
Trademarks and trade names		200,000		73,000		127,000		200,000		59,000		141,000
Engineering drawings		330,000		254,000		76,000		330,000		239,000		91,000
Non-compete agreements (1)		335,000		290,000		45,000		335,000		266,000		69,000
Patents		1,286,000		1,079,000		207,000		1,286,000		1,016,000		270,000
Totals	$	10,833,000	$	5,241,000	$	5,592,000	$	10,840,000	$	4,614,000	$	6,226,000

(1) A portion of these intangibles are maintained in a foreign currency and are therefore subject to foreign exchange rate fluctuations.

The weighted average amortization period for intangible assets was as follows:

	December 31, 2021	December 31, 2020
Customer relationships	6.7	7.6
Trademarks and trade names	9.5	10.5
Engineering drawings	5.1	6.1
Non-compete agreements	2.0	3.0
Patents	4.5	5.2

Schedule of amortization expense of intangible assets

Amortization expense of intangible assets subject to amortization was as follows:

Years ended December 31,
2021		2020
$	631,000	$	702,000

NOTE 5—GOODWILL AND OTHER INTANGIBLE ASSETS - Continued

Other Intangible Assets - Continued

Amortization expense for each of the next five years and thereafter is estimated to be as follows:

2022	$	629,000
2023		625,000
2024		577,000
2025		548,000
2026		348,000
Thereafter		678,000
	$	3,405,000