XML 25 R13.htm IDEA: XBRL DOCUMENT v3.21.1
Trademarks, Trade Name, Other Intangible Assets and Goodwill
 3 Months Ended
Mar. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]  
Trademarks, Trade Name, Other Intangible Assets and Goodwill Trademarks, Trade Name, Other Intangible Assets and Goodwill
Trademarks and Trade Name
Our indefinite-lived intangible assets that are not amortized but subject to annual impairment testing consist of $331.5 million and $336.7 of Playboy-branded trademarks and acquired trade names as of March 31, 2021 and December 31, 2020, respectively.
In January 2021, we assessed and adjusted the expected use of our certain acquired trade names. In determining the estimated useful life of acquired trade names, we consider the longevity of the trade name, economic factors and period over which economic benefit is consumed, among other factors. No material impact was recorded during the three months ended March 31, 2021.
Capitalized trademark costs include costs associated with the acquisition, registration and/or renewal of our trademarks. We expense certain costs associated with the defense of our trademarks. Registration and renewal costs of $0.1 million were capitalized during the three months ended March 31, 2021 and 2020.
Other Intangible Assets
Other intangible assets include distribution agreements, photo and magazine archives, licensing agreements, a customer list, and trade names, which we recognized in connection with our business combinations.
The following table sets forth amortizable other intangible assets, net (in thousands):
Weighted-Average Life (Years)Gross Carrying AmountAccumulated AmortizationNet Carrying Amount
March 31, 2021
Trade names10$9,430 $(168)$9,262 
Distribution agreements153,720 (2,500)1,220 
Photo and magazine archives102,000 (2,000)$— 
Customer list101,180 (148)1,032 
Total$16,330 $(4,816)$11,514 
Weighted-Average Life (Years)Gross Carrying AmountAccumulated AmortizationNet Carrying Amount
December 31, 2020
Distribution agreements15$3,720 $(2,438)$1,282 
Photo and magazine archives102,000 (1,967)33 
Licensing agreements95,913 (5,913)— 
Customer list101,180 (118)1,062 
Total$12,813 $(10,436)$2,377 
The aggregate amortization expense for definite-lived intangible assets was $0.3 million for each of the three months ended March 31, 2021 and 2020, respectively.
As of March 31, 2021, expected amortization expense relating to definite-lived intangible assets for each of the next five years and thereafter is as follows (in thousands):
Remainder of 2021$983 
20221,309 
20231,309 
20241,309 
20251,309 
Thereafter5,295 
Total$11,514