GOODWILL AND INTANGIBLES |
3 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| Goodwill and Intangible Assets Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| GOODWILL AND INTANGIBLES | GOODWILL AND INTANGIBLES At March 31, 2024 and December 31, 2023, goodwill was approximately $13.9 million and $14.2 million, respectively. The carrying amount and accumulated amortization of intangible assets as of March 31, 2024 and December 31, 2023 were as follows:
Customer relationships are amortized over an estimated useful life of 25 years, while brands have an indefinite life. Amortization expense for the three months ended March 31, 2024 and 2023 was approximately $0.1 million for both periods, respectively, and is included in selling, general and administrative expenses. Other fluctuations in the amounts of intangible assets are due to currency translation adjustments. As of March 31, 2024 and December 31, 2023, there were no indicators of goodwill or intangible asset impairment. The following is the future estimated annualized amortization expense related to customer relationships:
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