Definite and Indefinite Lived Intangible Assets

12 Months Ended

Dec. 31, 2014

Goodwill and Intangible Assets Disclosure [Abstract]

Definite and Indefinite lived Intangible Assets

DEFINITE AND INDEFINITE LIVED INTANGIBLE ASSETS

The Company has determined the value of the definite and indefinite-lived assets as of December 31, 2014 and December 31, 2013. The addition of the definite-lived assets related to the Specialized acquisition made during the second quarter of 2014. The following is a summary of both the Company's definite and indefinite-lived intangible assets net of the accumulated amortization:



(in thousands)	Estimated Useful Lives	December 31, 2014			December 31, 2013
Definite:
Trade names and trademarks	25 years		$	22,104		—
Customer and dealer relationships	14 years		29,404			—
Patents and drawings	12 years		1,968			—
Total at cost			53,476			—
Less accumulated amortization			1,992			—
Total net			51,484			—
Indefinite:
Trade names and trademarks			5,500			5,500
Total Intangible Assets			$	56,984		$	5,500

The Company's net carrying value of intangible assets with definite useful lives consists of trade names and trademarks at $21,548,000, customer and dealer relationships at$28,068,000 and patents and drawings at $1,868,000 . As of December 31, 2014, the related accumulated amortization balance for the definite lived assets were $556,000 for trade names and trademarks, $1,336,000 for customer and dealer relationships, and $100,000 for Patents and drawings. The Company estimates amortization expense to be $3,176,000 for each of the next five years.