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IDENTIFIED INTANGIBLE ASSETS | 12 Months Ended
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Dec. 31, 2019
IDENTIFIED INTANGIBLE ASSETS [Abstract] |
IDENTIFIED INTANGIBLE ASSETS | 5. IDENTIFIED INTANGIBLE ASSETS ﻿ A schedule of identified intangible assets is as follows: ﻿ ﻿
﻿ |  |  |  |  |  |  |
﻿ |  |  | Gross |  | Accumulated |  | Carrying
﻿($ in thousands) |  |  | Amount |  | Amortization |  | Amount
﻿December 31, 2019 |  |  |  |  |  |  |
﻿Trademarks |  |  |  |  |  |  |
﻿Wholesale |  | $ | 27,192 |  | - | $ | 27,192
﻿Retail |  |  | 2,900 |  | - |  | 2,900
﻿Patents |  |  | 895 | $ | 747 |  | 148
﻿Total Intangibles |  | $ | 30,987 | $ | 747 | $ | 30,240
﻿ |  |  |  |  |  |  |
﻿ |  |  | Gross |  | Accumulated |  | Carrying
﻿December 31, 2018 |  |  | Amount |  | Amortization |  | Amount
﻿Trademarks |  |  |  |  |  |  |
﻿Wholesale |  | $ | 27,192 |  | - | $ | 27,192
﻿Retail |  |  | 2,900 |  | - |  | 2,900
﻿Patents |  |  | 895 | $ | 714 |  | 181
﻿Total Intangibles |  | $ | 30,987 | $ | 714 | $ | 30,273
﻿ |  |  |  |  |  |  |
﻿ The weighted average remaining life for our patents is 3.8 years. ﻿ A schedule of approximate actual and expected amortization expense related to finite-lived intangible assets is as follows: ﻿ ﻿
﻿ |  |
﻿ |  | Amortization
﻿($ in thousands) |  | Expense
﻿2018 | $ | 41
﻿2019 |  | 33
﻿2020 |  | 31
﻿2021 |  | 26
﻿2022 |  | 22
﻿2023 |  | 20
﻿2024 |  | 17
﻿2025+ |  | 32
﻿ Intangible assets, including trademarks and patents are reviewed for impairment annually, and more frequently, if necessary. We perform such testing of indefinite-lived intangible assets in the fourth quarter of each year or as events occur or circumstances change that would more likely than not reduce the fair value of the asset below its carrying amount. Fair value of other indefinite-lived intangible assets is determined using the relief from royalty method. ﻿ In assessing whether indefinite-lived intangible assets are impaired, we must make certain estimates and assumptions regarding future cash flows, long-term growth rates of our business, operating margins, weighted average cost of capital and other factors such as; discount rates, royalty rates, cost of capital, and market multiples to determine the fair value of our assets. These estimates and assumptions require management’s judgment, and changes to these estimates and assumptions could materially affect the determination of fair value and/or impairment for each of our indefinite-lived intangible assets. Future events could cause us to conclude that indications of intangible asset impairment exist. Impairment may result from, among other things, deterioration in the performance of our business, adverse market conditions, adverse changes in applicable laws and regulations, competition, or the sale or disposition of a reporting segment. Any resulting impairment loss could have a material adverse impact on our financial condition and results of operations. ﻿ 2019 and 2018 Impairment Testing ﻿ We evaluate our finite and indefinite lived trademarks under the terms and provisions of the accounting standards for “Intangibles - Goodwill and Other”; and “Property, Plant and Equipment.” These pronouncements require that we compare the fair value of an intangible asset with its carrying amount. The results of our 2019 and 2018 indefinite-lived intangible impairment testing indicated that all reporting unit intangible asset fair values exceed their respective carrying values.

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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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