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Intangible assets are defined as identifiable non-monetary assets that cannot be seen, touched or physically measured. Worksport's intangible assets for the quarter that ended in Dec. 2023 was $1.34 Mil.
The historical data trend for Worksport's Intangible Assets can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Worksport Annual Data | |||||||||||||||||||||
Trend | Sep14 | Dec15 | Dec16 | Dec17 | Dec18 | Dec19 | Dec20 | Dec21 | Dec22 | Dec23 | |||||||||||
Intangible Assets | Get a 7-Day Free Trial | 0.06 | 0.06 | 0.59 | 1.27 | 1.34 |
Worksport Quarterly Data | ||||||||||||||||||||
Mar19 | Jun19 | Sep19 | Dec19 | Mar20 | Jun20 | Sep20 | Dec20 | Mar21 | Jun21 | Sep21 | Dec21 | Mar22 | Jun22 | Sep22 | Dec22 | Mar23 | Jun23 | Sep23 | Dec23 | |
Intangible Assets | Get a 7-Day Free Trial | 1.27 | 1.34 | 1.34 | 1.34 | 1.34 |
Intangible assets are defined as identifiable non-monetary assets that cannot be seen, touched or physically measured. Examples of intangible assets include trade secrets, copyrights, patents, trademarks. If a company acquires assets at the prices above the book value, it may carry goodwill on its balance sheet. Goodwill reflects the difference between the price the company paid and the book value of the assets.
Worksport (NAS:WKSP) Intangible Assets Explanation
If a company (company A) received a patent through their own work, though it has value, it does not show up on its balance sheet as an intangible asset. However, if company A sells this patent to company B, it will show up on company B's balance sheet as an intangible asset.
The same applies to brand names, trade secrets etc. For instance, Coca-Cola's brand is extremely valuable, but the brand does not appear on its balance sheet, because the brand was never acquired.
Some intangibles are amortized. Amortization is the depreciation of intangible assets.
Many intangibles are not amortized. They may still be written down when the company decides the asset is impaired.
Whenever you see an increase in goodwill over a number of years, you can assume it's because the company is out buying other businesses above book value. GOOD if buying businesses with durable competitive advantage.
If goodwill stays the same, the company when acquiring other companies is either paying less than book value or not acquiring. Businesses with moats never sell for less than book value.
Intangibles acquired are on balance sheet at fair value.
Internally developed brand names (Coke, Wrigleys, Band-Aid) however are not reflected on the balance sheet.
One of the reasons competitive advantage power can remain hidden for so long.
Be Aware
Companies may change the way intangible assets are amortized, and this will affect their reported earnings.
Thank you for viewing the detailed overview of Worksport's Intangible Assets provided by GuruFocus.com. Please click on the following links to see related term pages.
Ned L Siegel | director | 600 WILSHIRE BOULEVARD, LOS ANGELES CA 90017 |
William J Caragol | director | 1690 SOUTH CONGRESS AVENUE, SUITE 200, DELRAY BEACH FL 33445 |
Craig William Loverock | director | 48 UNION AVE, PORT PERRY A6 L9L 1G2 |
Michael D Johnston | officer: Chief Financial Officer | 340 RICHMOND STREET WEST, TORONTO Z4 MSV 1X2 |
Lorenzo Rossi | director, officer: Treasurer | 1895 CLEMENTS ROAD, SUITE 155, PICKERING A6 M1P 4Y9 |
Steven Raivio | director, officer: COO, Secretary | 8820 JANE STREET, VAUGHAN A6 L4K 2M9 |
Steven F. Rossi | 10 percent owner | 1895 CLEMENTS ROAD, PICKERING A6 M1P 4Y9 |
Truxmart Ltd. | 10 percent owner | 1895 CLEMENTS ROAD, PICKERING A6 MIP 4Y9 |
Mathis Family Partners Ltd. | 10 percent owner | 2560 W. MAIN STREET, SUITE 200, LITTLETON CO 80120 |
Lazzeri Family Trust, Robert Lazzeri, Trustee | 10 percent owner | 5046 CHRISTENSEN DRIVE, LITTLETON CO 80123 |
Earnco M.p.p.p. | 10 percent owner | 2560 W MAIN ST, STE 200, LITTLETON CO 80120 |
Lazzeri Equity Partners 401k Plan | 10 percent owner | 2560 W MAIN STREET, SUITE 200, LITTLETON CO 80120 |
A. J. Boisdrenghien | director, 10 percent owner, officer: President | 5910 SOUTH UNIVERSITY BOULEVARD, C-18, UNIT 165, LITTLETON CO 80121-2800 |
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