XML 25 R14.htm IDEA: XBRL DOCUMENT
v3.19.1

INTANGIBLE ASSETS | 3 Months Ended
--- | ---
Mar. 31, 2019
INTANGIBLE ASSETS |
INTANGIBLE ASSETS | 7. INTANGIBLE ASSETS Intangible assets on the Company’s condensed consolidated balance sheets consist of the following (in thousands):
|  |  |  |  |  |  | March 31, 2019 |  | December 31, 2018
|  |  |  |  |  |  | Gross |  | Accumulated |  | Net Book |  | Gross |  | Accumulated |  | Net Book
|  | Life |  | Amount |  | amortization |  | Value |  | Amount |  | amortization |  | Value
Customer lists |  | 8 | - | 17 | years |  | $ | 64,316 |  | $ | (16,297) |  | $ | 48,019 |  | $ | 64,439 |  | $ | (15,343) |  | $ | 49,096
Trade name |  | 10 | - | 19 | years |  |  | 12,222 |  |  | (3,502) |  |  | 8,720 |  |  | 12,249 |  |  | (3,305) |  |  | 8,944
Design and technologies |  | 10 | - | 15 | years |  |  | 12,928 |  |  | (2,893) |  |  | 10,035 |  |  | 13,023 |  |  | (2,723) |  |  | 10,300
Patents |  | 17 | years |  |  | 24 |  |  | (10) |  |  | 14 |  |  | 24 |  |  | (10) |  |  | 14
Total |  |  |  |  |  |  | $ | 89,490 |  | $ | (22,702) |  | $ | 66,788 |  | $ | 89,735 |  | $ | (21,381) |  | $ | 68,354
Intangible assets resulting from the acquisition of TCI were approximately $36,400 (Note 2). The intangible assets acquired consist of customer lists, a trade name and technology. The valuation and useful life of the purchased intangibles has not been finalized. Intangible assets from the acquisition of the Maval OE Steering business were approximately $3,870 (Note 2). The intangible assets acquired consist of customer lists. Amortization expense for intangible assets was $1,432 and $884 for the quarters ended March 31, 2019 and March 31, 2018, respectively. Estimated future intangible asset amortization expense as of March 31, 2019 is as follows (in thousands):
|  | Estimated
|  | Amortization
|  | Expense
Remainder of 2019 |  | $ | 4,289
2020 |  |  | 5,719
2021 |  |  | 5,470
2022 |  |  | 5,470
2023 |  |  | 5,389
2024 |  |  | 5,087
Thereafter |  |  | 35,364
Total estimated amortization expense |  | $ | 66,788

X
- 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
Name: | us-gaap_IntangibleAssetsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

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