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Definite- and Indefinite-Lived Intangible Assets | 12 Months Ended
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Dec. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract] |
DEFINITE- AND INDEFINITE-LIVED INTANGIBLE ASSETS | DEFINITE- AND INDEFINITE-LIVED INTANGIBLE ASSETS 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, 2020 | December 31, 2019
Definite: |  |  |  |  |  |  |
Trade names and trademarks | 15-25 years |  | $ | 67,770 |  |  |  | $ | 67,222 |  |
Customer and dealer relationships | 8-15 years |  | 122,470 |  |  |  | 121,508 |  |
Patents and developed technologies | 3-12 years |  | 28,764 |  |  |  | 28,485 |  |
Favorable leasehold interests | 7 years |  | 4,200 |  |  |  | 4,200 |  |
Total at cost |  |  | 223,204 |  |  |  | 221,415 |  |
Less accumulated amortization |  |  | (35,532) |  |  |  | (20,643) |  |
Total net |  |  | 187,672 |  |  |  | 200,772 |  |
Indefinite: |  |  |  |  |  |  |
Trade names and trademarks |  |  | 5,500 |  |  |  | 5,500 |  |
Total Intangible Assets |  |  | $ | 193,172 |  |  |  | $ | 206,272 |  |
The Company's net carrying value at December 31, 2020 of intangible assets with definite useful lives consists of trade names and trademarks at $59.4 million, customer and dealer relationships at $100.5 million, patents and drawings at $24.3 million, and favorable leasehold interests at $3.5 million. As of December 31, 2020, the related accumulated amortization balance for the definite-lived assets were $8.4 million for trade names and trademarks, $21.9 million for customer and dealer relationships, $4.5 million for patents and drawings, and $0.7 million for favorable leasehold interests. The Company estimates amortization expense to be $14.5 million for each of the next five years. Indefinite-lived trade names and trademarks consisted of the Gradall trade name with a carrying value of $3.6 million and the Bush Hog trade name with a carrying value of $1.9 million.

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- Definition The entire disclosure for all or part of the information related to intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -URI http://asc.fasb.org/topic&trid=2144416 + Details
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