Definite- and Indefinite-Lived Intangible Assets

12 Months Ended

Dec. 31, 2018

Goodwill and Intangible Assets Disclosure [Abstract]

DEFINITE- AND INDEFINITE-LIVED INTANGIBLE ASSETS

The following is a summary of both the Company's definite- and indefinite-lived intangible assets net of the accumulated amortization:


(in thousands)	Estimated Useful Lives	December 31, 2018					December 31, 2017
Definite:
Trade names and trademarks	25 years		$	23,938	$	25,574
Customer and dealer relationships	10-14 years		32,260		31,356
Patents and drawings	3-12 years		2,061		1,982
Total at cost			58,259		58,912
Less accumulated amortization			(14,902)		(11,540)
Total net			43,357		47,372
Indefinite:
Trade names and trademarks			5,500		5,500
Total Intangible Assets			$	48,857	$	52,872

The Company's net carrying value at December 31, 2018 of intangible assets with definite useful lives consists of trade names and trademarks at $19,721,000, customer and dealer relationships at $22,334,000, and patents and drawings at $1,302,000. As of December 31, 2018, the related accumulated amortization balance for the definite- lived assets were $4,217,000 for trade names and trademarks, $9,926,000 for customer and dealer relationships, and $759,000 for patents and drawings. The Company estimates amortization expense to be $3,500,000 for each of the next five years.

Indefinite-lived trade names and trademarks consisted of the Gradall trade name with a carrying value of $3,600,000 and the Bush Hog trade name with a carrying value of $1,900,000.