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Intangible assets (Tables)
12 Months Ended
Dec. 31, 2020
Goodwill And Intangible Assets Disclosure [Abstract]  
Schedule of Intangible Assets

Intangible assets are recorded at cost, or when acquired as a part of a business combination, at estimated fair value. These assets are amortized on a straight-line basis over the useful lives of the assets, which the Company believes is materially consistent with the pattern of economic benefit provided by these assets.

 

 

 

 

December 31,

 

(U.S. Dollars, in thousands)

 

Weighted Average Amortization Period

 

2020

 

 

2019

 

Cost

 

 

 

 

 

 

 

 

 

 

Patents

 

10 years

 

$

50,326

 

 

$

42,034

 

Developed technology

 

10 years

 

 

44,334

 

 

 

39,200

 

IPR&D

 

Indefinite

 

 

300

 

 

 

 

Customer relationships

 

7 years

 

 

15,685

 

 

 

7,430

 

License and other

 

8 years

 

 

16,941

 

 

 

15,960

 

Trademarks—finite lived

 

10 years

 

 

1,812

 

 

 

942

 

 

 

9 years

 

 

129,398

 

 

 

105,566

 

Accumulated amortization

 

 

 

 

 

 

 

 

 

 

Patents

 

 

 

$

(46,272

)

 

$

(38,246

)

Developed technology

 

 

 

 

(8,925

)

 

 

(4,523

)

Customer relationships

 

 

 

 

(2,095

)

 

 

(535

)

License and other

 

 

 

 

(11,006

)

 

 

(7,701

)

Trademarks—finite lived

 

 

 

 

(583

)

 

 

(422

)

 

 

 

 

 

(68,881

)

 

 

(51,427

)

Intangible assets, net

 

 

 

$

60,517

 

 

$

54,139

 

Schedule of Future Amortization Expense Future amortization expense for intangible assets is estimated as follows:

 

(U.S. Dollars, in thousands)

 

Amortization

 

2021

 

$

9,292

 

2022

 

 

9,143

 

2023

 

 

8,488

 

2024

 

 

8,020

 

2025

 

 

7,001

 

Thereafter

 

 

18,273

 

Total finite-lived intangible assets, net

 

$

60,217

 

Indefinite-lived intangible assets, net

 

 

300

 

Intangible assets, net

 

$

60,517