Intangible Assets and Liabilities Other Than Goodwill
|9 Months Ended|
Sep. 30, 2021
|Goodwill and Intangible Assets Disclosure [Abstract]|
|Intangible Assets and Liabilities Other Than Goodwill||Intangible Assets and Liabilities Other Than Goodwill
As of September 30, 2021 and December 31, 2020 we had the following amounts related to intangible assets and liabilities other than goodwill:
The aggregate amortization expense related to intangible assets and liabilities exclusive of contract related intangibles for the three and nine months ended September 30, 2021 and 2020 was $51,229 and $145,306 and $21,564 and $64,692 respectively. The net credit to cost of sales related to the amortization of contract related intangible assets and liabilities for the nine months ended September 30, 2021 and 2020 was $79,570 and $238,192 and $98,053 and $301,414, respectively. During
the nine months ended September 30, 2021 and 2020, we abandoned certain patent applications amounting to $7,400 and $179,944, respectively, and recorded an abandonment charge in general and administrative expenses in each respective period.
Favorable/Unfavorable Contract Assets and Liabilities
The favorable contract asset and unfavorable contract liability in the foregoing table represent the estimated fair value of American DG Energy's customer contracts (both positive for favorable contracts and negative for unfavorable contracts) which were acquired by us in May 2017.
Amortization of intangibles including contract related amounts is calculated using the straight-line method over the remaining useful life or contract term. Aggregate future amortization over the next five years and thereafter as of September 30, 2021 is estimated to be as follows:
The entire disclosure for all or part of the information related to intangible assets.
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef