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Goodwill and Other Intangible Assets (Tables) | 9 Months Ended
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Sep. 30, 2021
Goodwill and Intangible Assets Disclosure [Abstract] |
Schedule of Goodwill | The carrying value of Goodwill as of both September 30, 2021 and December 31, 2020 was $314.8 million and $311.9 million, respectively, as set forth in the table below:
| Carrying Amount
Balance as of December 31, 2020 | $ | 311,922,787 |
Acquisitions | 2,848,364 |
Divestitures | — |
Impairments | — |
Other (Net Measurement Period Adjustments) | 34,503 |
Balance as of September 30, 2021 | $ | 314,805,654 |
Schedule of Intangible Assets | The patents and intangible assets and related change in carrying values are set forth in the tables below: As of September 30, 2021:
Other Intangible Assets | Gross | Accumulated Amortization | Net | Assumed Useful Life
Gentex Patents | $ | 39,124,090 |  | $ | (25,858,926) |  | $ | 13,265,164 |  | Various
Vaporsens Technology Licenses | 346,654 |  | (62,740) |  | 283,914 |  | Various
Other Intangible Assets |  |  |  |
HomeLink® Trade Names and Trademarks | $ | 52,000,000 |  | $ | — |  | $ | 52,000,000 |  | Indefinite
HomeLink® Technology | 180,000,000 |  | (120,000,000) |  | 60,000,000 |  | 12 years
Existing Customer Platforms | 43,000,000 |  | (34,400,000) |  | 8,600,000 |  | 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 | 800,000 |  | — |  | 800,000 |  | Indefinite
Guardian In-Process R&D | 8,485,407 |  | — |  | 8,485,407 |  | Indefinite
Total Other Intangible Assets | $ | 397,563,539 |  | $ | (154,400,000) |  | $ | 243,163,539 |  |
Total Patents & Other Intangible Assets | $ | 437,034,283 |  | $ | (180,321,666) |  | $ | 256,712,617 |  |
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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