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Trademarks, Licenses and Other Intangible Assets

2015	Gross		Accumulated		Net Book
	Amount		Amortization		Value
Trademarks (indefinite lives)	$	119,459	$	—	$	119,459
Trademarks (finite lives)		42,046		61		41,985
Licenses (finite lives)		66,082		28,994		37,088
Other intangible assets (finite lives)		12,366		9,563		2,803
Subtotal		120,494		38,618		81,876
Total	$	239,953	$	38,618	$	201,335

2014	Gross		Accumulated		Net Book
	Amount		Amortization		Value
Trademarks (indefinite lives)	$	4,252	$	—	$	4,252
Trademarks (finite lives)		46,889		53		46,836
Licenses (finite lives)		72,171		26,976		45,195
Other intangible assets (finite lives)		11,572		9,324		2,248
Subtotal		130,632		36,353		94,279
Total	$	134,884	$	36,353	$	98,531

Amortization expense was $5.8 million, $6.6 million and $6.2 million in 2015, 2014 and 2013, respectively. Amortization expense is expected to approximate $6.0 million in 2016 and 2017, and $4.9 million in 2018, 2019 and 2020. The weighted average amortization period for trademarks, licenses and other intangible assets with finite lives are 18 years, 14 years and 2 years, respectively, and 14 years in the aggregate.

There were no impairment charges for trademarks with indefinite useful lives in 2015, 2014 and 2013. The fair values used in our evaluations are estimated based upon discounted future cash flow projections using a weighted average cost of capital of 8.02%. The cash flow projections are based upon a number of assumptions, including, future sales levels and future cost of goods and operating expense levels, as well as economic conditions, changes to our business model or changes in consumer acceptance of our products which are more subjective in nature. The Company believes that the assumptions the Company has made in projecting future cash flows for the evaluations described above are reasonable and currently no impairment indicators exist for our indefinite-lived assets. However, if future actual results do not meet our expectations, the Company may be required to record an impairment charge, the amount of which could be material to our results of operations.

The cost of trademarks, licenses and other intangible assets with finite lives is being amortized by the straight-line method over the term of the respective license or the intangible assets estimated useful life which range from three to twenty years. If the residual value of a finite life intangible asset exceeds its carrying value, then the asset is not amortized. The Company reviews intangible assets with finite lives for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable.

Trademarks (finite lives) primarily represent Lanvin brand names and trademarks and in connection with their purchase, Lanvin was granted the right to repurchase the brand names and trademarks in 2025 for the greater of €70 million (approximately $76 million) or one times the average of the annual sales for the years ending December 31, 2023 and 2024 (residual value). Because the residual value of the intangible asset exceeds its carrying value, the asset is not amortized.