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Goodwill and Other Intangible Assets (Tables) | 6 Months Ended
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Jun. 30, 2021
Goodwill and Intangible Assets Disclosure [Abstract] |
Schedule of Goodwill | The carrying value of Goodwill as of both June 30, 2021 and December 31, 2020 was $311.9 million as set forth in the table below:
| Carrying Amount
Balance as of December 31, 2020 | $ | 311,922,787 |
Acquisitions | — |
Divestitures | — |
Impairments | — |
Other | — |
Balance as of June 30, 2021 | $ | 311,922,787 |
Schedule of Intangible Assets | The patents and intangible assets and related change in carrying values are set forth in the tables below: As of June 30, 2021:
Other Intangible Assets | Gross | Accumulated Amortization | Net | Assumed Useful Life
Gentex Patents | $ | 38,860,181 |  | $ | (25,402,803) |  | $ | 13,457,378 |  | Various
Vaporsens Technology Licenses | 333,850 |  | (58,232) |  | 275,618 |  | Various
Other Intangible Assets |  |  |  |
HomeLink® Trade Names and Trademarks | $ | 52,000,000 |  | $ | — |  | $ | 52,000,000 |  | Indefinite
HomeLink® Technology | 180,000,000 |  | (116,250,000) |  | 63,750,000 |  | 12 years
Existing Customer Platforms | 43,000,000 |  | (33,325,000) |  | 9,675,000 |  | 10 years
Exclusive Licensing Agreement | 96,000,000 |  | — |  | 96,000,000 |  | Indefinite
Vaporsens In-Process R&D | 11,000,000 |  | — |  | 11,000,000 |  | Indefinite
Argil In- Process R&D | 6,278,132 |  | — |  | 6,278,132 |  | Indefinite
Air-Craftglass In-Process R&D | 1,250,000 |  | — |  | 1,250,000 |  | Indefinite
Guardian In-Process R&D | 11,260,429 |  | — |  | 11,260,429 |  | Indefinite
Total Other Intangible Assets | $ | 400,788,561 |  | $ | (149,575,000) |  | $ | 251,213,561 |  |
Total Patents & Other Intangible Assets | $ | 439,982,592 |  | $ | (175,036,035) |  | $ | 264,946,557 |  |
As of December 31, 2020:
Other Intangible Assets | Gross | Accumulated Amortization | Net | Assumed Useful Life
Gentex Patents | $ | 38,625,292 |  | $ | (24,528,853) |  | $ | 14,096,439 |  | Various
Vaporsens Technology Licenses | 300,985 |  | (38,856) |  | 262,129 |  | Various
Other Intangible Assets |  |  |  |
HomeLink® Trade Names and Trademarks | $ | 52,000,000 |  | $ | — |  | $ | 52,000,000 |  | Indefinite
HomeLink® Technology | 180,000,000 |  | (108,750,000) |  | 71,250,000 |  | 12 years
Existing Customer Platforms | 43,000,000 |  | (31,175,000) |  | 11,825,000 |  | 10 years
Exclusive Licensing Agreement | 96,000,000 |  | — |  | 96,000,000 |  | Indefinite
Vaporsens In-Process R&D | 11,000,000 |  | — |  | 11,000,000 |  | Indefinite
Argil In-Process R&D | 6,278,132 |  | — |  | 6,278,132 |  | Indefinite
Air-Craftglass In-Process R&D | 1,394,995 |  | — |  | 1,394,995 |  | Indefinite
Total Other Intangible Assets | $ | 389,673,127 |  | $ | (139,925,000) |  | $ | 249,748,127 |  |
Total Patents & Other Intangible Assets | $ | 428,599,404 |  | $ | (164,492,709) |  | $ | 264,106,695 |  |

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