XML 40 R19.htm IDEA: XBRL DOCUMENT
v3.24.0.1

Intangible Assets | 12 Months Ended
--- | ---
Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract] |
INTANGIBLE ASSETS | INTANGIBLE ASSETS The following is a summary of the Company's intangible assets net of the accumulated amortization:
(in thousands) | Estimated Useful Lives | December 31, 2023 | December 31, 2022
Definite: |  |  |  |  |  |  |
Trade names and trademarks | 15-25 years |  | $ | 72,834 |  |  |  | $ | 68,797 |  |
Customer and dealer relationships | 8-15 years |  | 137,744 |  |  |  | 129,338 |  |
Patents and developed technologies | 3-12 years |  | 28,558 |  |  |  | 28,437 |  |
Favorable leasehold interests | 7 years |  | 4,200 |  |  |  | 4,200 |  |
Noncompetition agreements | 5 years |  | 200 |  |  |  | — |  |
Total at cost |  |  | 243,536 |  |  |  | 230,772 |  |
Less accumulated amortization |  |  | (80,740) |  |  |  | (64,931) |  |
Total net |  |  | 162,796 |  |  |  | 165,841 |  |
Indefinite: |  |  |  |  |  |  |
Trade names and trademarks |  |  | 5,500 |  |  |  | 5,500 |  |
Total Intangible Assets |  |  | $ | 168,296 |  |  |  | $ | 171,341 |  |
The Company's net carrying value at December 31, 2023 of intangible assets with definite useful lives consists of trade names and trademarks at $55.9 million, customer and dealer relationships at $89.3 million, patents and drawings at $15.7 million, and favorable leasehold interests at $1.7 million. As of December 31, 2023, the related accumulated amortization balance for the definite-lived assets were $16.9 million for trade names and trademarks, $48.5 million for customer and dealer relationships, $12.8 million for patents and drawings, and $2.5 million for favorable leasehold interests. The Company estimates amortization expense to be $15.5 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.

X
- References No definition available. + Details
Name: | us-gaap_GoodwillAndIntangibleAssetsDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for all or part of the information related to intangible assets. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//350-30/tableOfContent + Details
Name: | us-gaap_IntangibleAssetsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration