United states

Carrying values and estimated useful lives of intangible assets as of December 31, 2014, consisted of the following (in thousands):

 

		Estimated Useful Life		Cost				Accumulated Amortization				Net
Patents		13 years		$	2,000			$	(1,577	)		$	423
Customer agreements		3 years 9 months			2,328				(1,714	)			614
Trademarks		Indefinite			150				—				150
				$	4,478			$	(3,291	)		$	1,187

 

F-36

Table of Contents

TPI COMPOSITES, INC. AND SUBSIDIARIES

Notes to Consolidated Financial Statements

 

The weighted-average remaining amortization period for the Company’s amortizable intangible assets is approximately 1.7 years. During the years ended December 31, 2015, 2014 and 2013, the Company recorded amortization expense of $0.8 million in each year.

Estimated amortization of the amortizable intangible assets for each of the years ending December 31 is expected to be (in thousands):

 

2016		$	154
2017			115
		$	269

Note 10. Other Noncurrent Assets

Other noncurrent assets at December 31 consisted of the following (in thousands):

 

		2015				2014
Deferred financing fees		$	4,220			$	4,256
Restricted cash			2,537				5,430
Deferred tax assets			1,661				355
Land use right			1,796				1,951
Deposits			486				479
Other			120				730
Total other noncurrent assets		$	10,820			$	13,201

The land use right was purchased during 2007 and permits the Company to use the land where its Taicang Port, China facility is situated. The Company is amortizing the land use right on a straight-line basis over its 50 year life. Amortization of the land use right began upon the opening of the plant in 2008.

Note 11. Accrued Warranty

Warranty accrual at December 31 consisted of the following (in thousands):

 

		2015				2014				2013
Warranty accrual at beginning of year		$	5,916			$	3,748			$	4,078
Accrual during the year			10,653				3,211				619
Cost of warranty services provided during the year and reduction of reserves			(2,973	)			(1,043	)			(949	)
Warranty accrual at end of year		$	13,596			$	5,916			$	3,748