v3.24.0.1
Goodwill and Other Intangible Assets
 12 Months Ended
Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Other Intangible Assets Goodwill and Other Intangible Assets
Goodwill
As of December 31, 2023 and 2022, goodwill totaled $69.9 million. Changes in the carrying amount of goodwill during the years ended December 31, 2023 and 2022 are shown below (in thousands):
Goodwill
Balance at December 31, 2021$69,436 
Adjustments related to finalization of working capital in the acquisition of ConnectPV505 
Balance at December 31, 202269,941 
Adjustments— 
Balance at December 31, 2023$69,941 
Other Intangible Assets
Other intangible assets, net consisted of the following (in thousands):
Estimated Useful Lives (Years)
December 31,
20232022
Amortizable:
Costs:
Customer relationships
13
$53,100 $53,100 
Developed technology
13
34,600 34,600 
Trade names
13
11,900 11,900 
Backlog
1
600 600 
Noncompete agreements
5
2,000 2,000 
Total amortizable intangibles102,200 102,200 
Accumulated amortization:
Customer relationships27,135 22,925 
Developed technology17,522 14,860 
Trade names6,275 5,230 
Backlog600 600 
Noncompete agreements2,000 2,000 
Total accumulated amortization53,532 45,615 
Total other intangible assets, net$48,668 $56,585 

Amortization expense related to intangible assets amounted to $7.9 million, $8.7 million and $8.4 million for the years ended December 31, 2023, 2022 and 2021, respectively. Estimated future annual amortization expense for other intangible assets, net are as follows (in thousands):
For the Year Ended December 31,Amortization Expense
2024$7,585 
20257,585 
20267,585 
20277,585 
20287,585 
Thereafter10,743 
$48,668