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INTANGIBLE ASSETS | 12 Months Ended
--- | ---
Dec. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract] |
INTANGIBLE ASSETS | NOTE 8 - INTANGIBLE ASSETS Intangible assets:
|  | December 31, |
|  | 2020 |  |  | 2019 |
Customer relationships |  |  |  |  |  |
Cost |  | $ | 671 |  |  | $ | 671 |
Impairment |  |  | (298 | ) |  |  |  |
Accumulated amortization |  |  | (373 | ) |  |  | (289 | )
Amortized cost |  | $ | - |  |  | $ | 389 |
The COVID-19 pandemic and the significant reduction in the reconditioning and coating segment (“Turbochrome”) business during 2020 were a trigger event for impairment of the customer relationships asset. The Company believes there will be no future economic benefits that will be derived from the customers attributed to this intangible asset. Therefore, the Company wrote off the amortized cost related to the customer relationships. The write off expenses recorded in the P&L under Other Expenses.
|  | December 31, |
|  | 2020 |  |  | 2019 |
Commercial license |  |  |  |  |  |
Cost |  | $ | 1,513 |  |  | $ | - |
Accumulated amortization |  |  | (38 | ) |  |  | - |
Amortized cost |  | $ | 1,475 |  |  | $ | - |
On September 2020 Piedmont signed a 10 years agreement for the commercial segment. Under this contract Honeywell intends to transfer all of its APU 331-20X MRO activity to TAT Piedmont. Estimated amortization expenses for the five succeeding years is $150 per year.

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- Definition The entire disclosure for goodwill and 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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