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Goodwill and Other Intangible Assets (Tables) | 6 Months Ended
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Jun. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract] |
Schedule of Goodwill | The carrying value of Goodwill as of both June 30, 2022 and December 31, 2021 was $313.9 million and $314.0 million, respectively, as set forth in the table below:
| Carrying Amount
Balance as of December 31, 2021 | $ | 313,960,209 |
Acquisitions | — |
Divestitures | — |
Impairments | — |
Other | (102,559) |
Balance as of June 30, 2022 | $ | 313,857,650 |
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, 2022:
Other Intangible Assets | Gross | Accumulated Amortization | Net | Assumed Useful Life
Gentex Patents | $ | 39,495,602 |  | $ | (27,389,285) |  | $ | 12,106,317 |  | Various
Vaporsens Technology Licenses | 351,290 |  | (67,367) |  | 283,923 |  | Various
Other Intangible Assets |  |  |  |
HomeLink® Trade Names and Trademarks | $ | 52,000,000 |  | $ | — |  | $ | 52,000,000 |  | Indefinite
HomeLink® Technology | 180,000,000 |  | (131,250,000) |  | 48,750,000 |  | 12 years
Existing Customer Platforms | 43,000,000 |  | (37,625,000) |  | 5,375,000 |  | 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 | 1,507,778 |  | — |  | 1,507,778 |  | Indefinite
Guardian Trade Names | 1,300,000 |  | — |  | 1,300,000 |  | Indefinite
Guardian In-Process R&D | 6,800,000 |  | — |  | 6,800,000 |  | Indefinite
Total Other Intangible Assets | $ | 397,885,910 |  | $ | (168,875,000) |  | $ | 229,010,910 |  |
Total Patents & Other Intangible Assets | $ | 437,732,802 |  | $ | (196,331,652) |  | $ | 241,401,150 |  |
As of December 31, 2021:
Other Intangible Assets | Gross | Accumulated Amortization | Net | Assumed Useful Life
Gentex Patents | $ | 39,362,187 |  | $ | (26,506,155) |  | $ | 12,856,032 |  | Various
Vaporsens Technology Licenses | 351,290 |  | (50,107) |  | 301,183 |  | Various
Other Intangible Assets |  |  |  |
HomeLink® Trade Names and Trademarks | $ | 52,000,000 |  | $ | — |  | $ | 52,000,000 |  | Indefinite
HomeLink® Technology | 180,000,000 |  | (123,750,000) |  | 56,250,000 |  | 12 years
Existing Customer Platforms | 43,000,000 |  | (35,475,000) |  | 7,525,000 |  | 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 | 1,507,778 |  | — |  | 1,507,778 |  | Indefinite
Guardian Trade Names | 1,384,857 |  | — |  | 1,384,857 |  | Indefinite
Guardian In-Process R&D | 7,243,860 |  | — |  | 7,243,860 |  | Indefinite
Total Other Intangible Assets | $ | 398,414,627 |  | $ | (159,225,000) |  | $ | 239,189,627 |  |
Total Patents & Other Intangible Assets | $ | 438,128,104 |  | $ | (185,781,262) |  | $ | 252,346,842 |  |

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