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Goodwill and Other Intangible Assets (Tables) | 9 Months Ended
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Sep. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract] |
Schedule of Goodwill | The carrying value of Goodwill as of both September 30, 2024 and December 31, 2023 was $340.1 million, as set forth in the table below:
| Carrying Amount
Balance as of December 31, 2023 | $ | 340,105,631 |
Acquisitions | — |
Divestitures | — |
Impairments | — |
Other | — |
Balance as of September 30, 2024 | $ | 340,105,631 |
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, 2024:
Other Intangible Assets | Gross | Accumulated Amortization | Net | Assumed Useful Life
Gentex Patents | $ | 39,198,259 |  | $ | (27,882,575) |  | $ | 11,315,684 |  | Various
Other Intangible Assets |  |  |  |
HomeLink® Trade Names and Trademarks | $ | 52,000,000 |  | $ | — |  | $ | 52,000,000 |  | Indefinite
HomeLink® Technology | 180,000,000 |  | (165,000,000) |  | 15,000,000 |  | 12 years
Existing Customer Platforms | 43,000,000 |  | (43,000,000) |  | — |  | 10 years
Exclusive Licensing Agreement | 96,000,000 |  | — |  | 96,000,000 |  | Indefinite
eSight Technology | 12,000,000 |  | (916,667) |  | 11,083,333 |  | 12 years
eSight Trade Names and Trademarks | 870,000 |  | (66,458) |  | 803,542 |  | 12 years
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 |  | (27,083) |  | 1,272,917 |  | 12 years
Guardian Technology | 6,800,000 |  | (141,667) |  | 6,658,333 |  | 12 years
Total Other Intangible Assets | $ | 410,755,910 |  | $ | (209,151,875) |  | $ | 201,604,035 |  |
Total Patents & Other Intangible Assets | $ | 449,954,169 |  | $ | (237,034,450) |  | $ | 212,919,719 |  |
As of December 31, 2023:
Other Intangible Assets | Gross | Accumulated Amortization | Net | Assumed Useful Life
Gentex Patents | $ | 39,199,107 |  | $ | (27,769,803) |  | $ | 11,429,304 |  | Various
Other Intangible Assets |  |  |  |
HomeLink® Trade Names and Trademarks | $ | 52,000,000 |  | $ | — |  | $ | 52,000,000 |  | Indefinite
HomeLink® Technology | 180,000,000 |  | (153,750,000) |  | 26,250,000 |  | 12 years
Existing Customer Platforms | 43,000,000 |  | (43,000,000) |  | — |  | 10 years
Exclusive Licensing Agreement | 96,000,000 |  | — |  | 96,000,000 |  | Indefinite
eSight Technology | 12,000,000 |  | — |  | 12,000,000 |  | 12 years
eSight Trade Names and Trademarks | 870,000 |  | — |  | 870,000 |  | 12 years
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 | $ | 410,755,910 |  | $ | (196,750,000) |  | $ | 214,005,910 |  |
Total Patents & Other Intangible Assets | $ | 449,955,017 |  | $ | (224,519,803) |  | $ | 225,435,214 |  |

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