Intangible Assets and Goodwill
|3 Months Ended|
Mar. 31, 2022
|Goodwill and Intangible Assets Disclosure [Abstract]|
|Intangible Assets and Goodwill||
Note 6. Intangible Assets and Goodwill
Our recognized intangible assets consist of patents and the unpatented technological know-how of Danimer Catalytic Technologies. Our legacy patents were initially recorded at cost. The values of Danimer Catalytic Technologies' patents and unpatented know-how are inseparable and represent their acquisition-date fair value, less subsequent amortization.
We capitalize patent defense and application costs. Patent costs are amortized on a straight-line basis over their estimated useful lives, which range from 13 to 16 years. The Danimer Catalytic Technologies patents are amortized over its estimated 20 year life. Our intangible portfolio has an estimated weighted average useful life of 19.8 years.
Intangible assets, net, consisted of the following:
Amortization expense of $1.2 million and $0.1 million, respectively, during the three months ended March 31, 2022 and 2021 was included in research and development costs.
Changes in the carrying amount of goodwill were as follows:
The entire disclosure for goodwill and intangible assets.
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef