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Trademarks and Other Intangibles
9 Months Ended
Sep. 30, 2020
Goodwill and Intangible Assets Disclosure [Abstract]  
Trademarks and Other Intangibles

2. Trademarks and Other Intangibles

Trademarks and other intangibles, net consist of the following:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    

Weighted

    

 

 

    

 

 

    

 

 

 

 

Average

 

September 30, 2020

 

 

Amortization

 

Gross Carrying

 

Accumulated

 

Net Carrying

($ in thousands)

 

Period

 

Amount

 

Amortization

 

Amount

Trademarks (indefinite-lived)

 

n/a

 

$

44,500

 

$

 —

 

$

44,500

Trademarks (finite-lived)

 

15 years

 

 

34,613

 

 

6,291

 

 

28,322

Trademarks (finite-lived)

 

18 years

 

 

38,194

 

 

3,660

 

 

34,534

Other intellectual property

 

7 years

 

 

762

 

 

510

 

 

252

Copyrights and other intellectual property

 

10 years

 

 

190

 

 

123

 

 

67

Total

 

 

 

$

118,259

 

$

10,584

 

$

107,675

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    

Weighted

    

 

 

    

 

 

    

 

 

 

 

Average

 

December 31, 2019

 

 

Amortization

 

Gross Carrying

 

Accumulated

 

Net Carrying

($ in thousands)

 

Period

 

Amount

 

Amortization

 

Amount

Trademarks (indefinite-lived)

 

n/a

 

$

62,900

 

$

 —

 

$

62,900

Trademarks (finite-lived)

 

15 years

 

 

16,213

 

 

4,560

 

 

11,653

Trademarks (finite-lived)

 

18 years

 

 

38,194

 

 

2,067

 

 

36,127

Other intellectual property

 

7 years

 

 

762

 

 

428

 

 

334

Copyrights and other intellectual property

 

10 years

 

 

190

 

 

109

 

 

81

Total

 

  

 

$

118,259

 

$

7,164

 

$

111,095

 

Amortization expense for intangible assets was approximately $1.14 million for the three-month period ended September 30, 2020 (the "current quarter") and was approximately $0.83 million for the three-month period ended September 30, 2019 (the "prior year quarter"). Amortization expense for intangible assets was approximately $3.42 million for the nine-month period ended September 30, 2020 (the “current nine months”) and was approximately $2.43 million for the nine-month period ended September 30, 2019 (the “prior year nine months”).

Effective January 1, 2020, the Company determined that the Ripka Brand, inclusive of all its trademarks, has a finite life of 15 years, and is amortized on a straight-line basis accordingly. Prior to January 1, 2020, the Ripka Brand trademarks were considered indefinite-lived assets.

The trademarks related to the Isaac Mizrahi Brand have been determined to have indefinite useful lives and, accordingly, no amortization has been recorded for these assets.