identifiable assets include a customer list and royalty agreements with fair values of approximately $645,389 and $242,761, respectively, both of which will be amortized over five years. Proforma consolidated financial results for the acquisitions discussed above have not been included in the Company’s consolidated financial results because their effect would not be material.

3. INVENTORIES

 

Inventories consisted of the following at December 31, 2005 and 2004 (in thousands):

4. INTANGIBLE ASSETS

 

Intangible assets consisted of the following at December 31, 2005 and 2004 (in thousands):

 

 

Aggregate amortization expense for the years ended December 31, 2005, 2004, and 2003 was approximately $202,000, $184,000, and $158,000, respectively.

Estimated amortization expense for the intangible assets for the next five years is as follows (in thousands):

 
 

 

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