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Intangible assets (Tables)
12 Months Ended
Dec. 31, 2021
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, such as for in-process research and development (“IPR&D”) assets. 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 the assets.

 

 

 

 

 

December 31,

 

(U.S. Dollars, in thousands)

 

Weighted Average Amortization Period

 

2021

 

 

2020

 

Cost

 

 

 

 

 

 

 

 

 

 

Patents

 

10 years

 

$

44,561

 

 

$

50,326

 

Developed technology

 

10 years

 

 

43,979

 

 

 

44,334

 

IPR&D

 

Indefinite

 

 

300

 

 

 

300

 

Customer relationships

 

7 years

 

 

15,621

 

 

 

15,685

 

License and other

 

8 years

 

 

18,924

 

 

 

16,941

 

Trademarks—finite lived

 

10 years

 

 

1,839

 

 

 

1,812

 

 

 

9 years

 

 

125,224

 

 

 

129,398

 

Accumulated amortization

 

 

 

 

 

 

 

 

 

 

Patents

 

 

 

$

(41,408

)

 

$

(46,272

)

Developed technology

 

 

 

 

(13,409

)

 

 

(8,925

)

Customer relationships

 

 

 

 

(4,520

)

 

 

(2,095

)

License and other

 

 

 

 

(12,528

)

 

 

(11,006

)

Trademarks—finite lived

 

 

 

 

(693

)

 

 

(583

)

 

 

 

 

 

(72,558

)

 

 

(68,881

)

Intangible assets, net

 

 

 

$

52,666

 

 

$

60,517

 

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

 

(U.S. Dollars, in thousands)

 

Amortization

 

2022

 

$

9,376

 

2023

 

 

8,692

 

2024

 

 

8,254

 

2025

 

 

7,252

 

2026

 

 

6,215

 

Thereafter

 

 

12,577

 

Total finite-lived intangible assets, net

 

$

52,366

 

Indefinite-lived intangible assets, net

 

 

300

 

Intangible assets, net

 

$

52,666