Amortizable Intangible Assets

9 Months Ended

Sep. 30, 2019

Amortizable Intangible Assets Disclosure [Abstract]

Amorizable Intangible Assets Disclosure [Text Block]

6. Amortizable Intangible Assets

Amortizable intangible assets consist of the following:

				September 30, 2019						December 31, 2018
				(in thousands)
Amortizable intangible assets:	Weighted Average Life*		Gross		Accumulated Amortization		Net		Gross		Accumulated Amortization		Net
Distribution agreements/customer relationships	10.0	Years	$	22,014	$	(10,209)	$	11,805	$	22,657	$	(9,509)	$	13,148
Existing technology	6.4	Years		40,962		(18,534)		22,428		41,268		(16,215)		25,053
Trade names	7.0	Years		7,578		(3,231)		4,347		7,828		(2,861)		4,967
In-process R&D	-	Years		-		-		-		1,387		(30)		1,357
Patents	-	Years		204		(204)		-		211		(204)		7
Total amortizable intangible assets			$	70,758	$	(32,178)	$	38,580	$	73,351	$	(28,819)	$	44,532

* Weighted average life as of September 30, 2019.

Intangible asset amortization expense from continuing operations was $1.4 million and $1.5 million for each of the three months ended September 30, 2019 and 2018, and was $4.3 million and $4.0 million for the nine months ended September 30, 2019 and 2018, respectively. Amortization expense of existing amortizable intangible assets is currently estimated to be $5.6 million for the year ending December 31, 2019, $5.5 million for the year ending December 31, 2020, $5.5 million for the year ending December 31, 2021, $5.4 million for the year ending December 31, 2022, $5.3 million for the year ending December 31, 2023, and $5.2 million for the year ending December 31, 2024.

During the three months ended June 30, 2019, and as a result of the ongoing evaluation of its capitalized research and development activities, the Company recorded an impairment charge of $0.9 million related to certain of its in-process research and development intangible assets and reclassified $0.4 million as completed technology.

During the three months ended September 30, 2019, the Company recorded an impairment charge of $0.5 million related to customer relationships, existing technology, and trade names intangible assets as a result of the decision to discontinue one of the Company’s product lines and cease operations in its facility in North Carolina.

There were no impairment charges recognized during the three and nine months ended September 30, 2018.