INTANGIBLE ASSETS |
12 Months Ended | ||||||||||||||||||||||||||||||||||||
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Dec. 31, 2017 | |||||||||||||||||||||||||||||||||||||
| Goodwill and Intangible Assets Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||
| INTANGIBLE ASSETS |
INTANGIBLE ASSETS
At December 31, 2017, and 2016, intangibles for product formulations and registrations had a gross carrying amount of $1.8 million, and $1.9 million, accumulated amortization of $1.1 million, and $0.9 million, and a net amount of $0.7 million, and $1.0 million, respectively. The estimated useful lives of the product formulations range from 9 to 15 years.
During the year ended December 31, 2016, the Company purchased blue-hat product registrations of $0.5 million in China. The estimated useful lives of the blue-hat product registrations range from 3 to 5 years. Due to a reassessment of product demand, the Company took an impairment on the blue-hat product registrations of $0.1 million for the year ended December 31, 2017.
Amortization expense for intangible assets for the years ended December 31, 2017, 2016, and 2015 was $0.2 million, $0.1 million and $0.1 million, respectively. Estimated amortization expense for the five succeeding years and thereafter is as follows (dollar amounts in thousands):
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- References No definition available.
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- Definition The entire disclosure for all or part of the information related to intangible assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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