Identifiable intangible assets, and related accumulated amortization, as of December 31, 2023 and 2022 consist of:


	December 31, 2023
	Gross Carrying Value			Accumulated Amortization			Net Book Value
	(in thousands)
Customer relationships	$	8,085		$	7,214		$	871
Tradenames		3,066			2,607			459
Developed technology		1,884			1,613			271
Foreign currency		(1,159	)		(1,292	)		133
Total Intangible Assets (1)	$	11,876		$	10,142		$	1,734


	December 31, 2022
	Gross Carrying Value			Accumulated Amortization			Net Book Value
	(in thousands)
Customer relationships	$	8,085		$	6,750		$	1,335
Tradenames		3,066			2,147			919
Developed technology		1,884			1,495			389
Foreign currency		(1,375	)		(1,344	)		(31	)
Total Intangible Assets	$	11,660		$	9,048		$	2,612

(1)

The accumulated amortization includes $1.9 million of accumulated impairment charges as of December 31, 2023.

In May 2019, the Company completed its acquisition of the business and assets of ROCCAT. The acquired intangible assets relating to developed technology, customer relationships, and trade name are subject to amortization. In January 2021, the Company completed its acquisition of the business and assets relating to the Neat Microphones business. The acquired intangible assets relating to developed technology, customer relationships, and trade name are subject to amortization.

During the fourth quarter of 2022, the Company made the decision to increasingly leverage the Turtle Beach brand across our product portfolio including PC products over time. Due to this decision, the Company prepared an impairment calculation to determine the fair value of the ROCCAT tradename asset using the relief from royalty method. As a result of the present value calculation, the Company recorded an impairment charge of $0.8 million for the ROCCAT tradename intangible asset.

During the fourth quarter of 2022, as part of the 2023 annual operating and strategic plan process, the Company made the decision to transition microphone products to the Turtle Beach brand. As a result of this decision, there was no longer a basis for carrying the remaining net intangible assets related to the Neat brand. In the fourth quarter 2022, the Company recorded an impairment charge of $1.1 million related to the remaining Neat net intangible assets.

Amortization expense related to definite lived intangible assets was $1.0 million, $1.2 million and $1.3 million for the years ended December 31, 2023, 2022 and 2021, respectively.