| Goodwill and Intangible Assets Disclosure [Text Block] |
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5. Goodwill and Other Intangible Assets
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There was no change to goodwill during the three months ended March 31, 2024. Other intangible assets consist of the following:
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March 31, 2024
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December 31, 2023
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Gross
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Net
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Gross
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Net
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Carrying
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Accumulated
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Carrying
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Carrying
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Accumulated
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Carrying
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Value
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Amortization
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Value
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Value
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Amortization
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Value
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(in thousands)
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Product technology and intellectual property
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$ |
29,549 |
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$ |
16,714 |
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$ |
12,835 |
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$ |
29,549 |
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$ |
16,048 |
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$ |
13,501 |
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Trademarks, tradenames and licenses
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3,767 |
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1,997 |
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1,770 |
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3,767 |
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1,909 |
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1,858 |
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Customer relationships
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37,171 |
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11,725 |
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25,446 |
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37,171 |
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11,064 |
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26,107 |
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Other intangible assets
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1,643 |
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1,455 |
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188 |
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1,643 |
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1,398 |
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245 |
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Total identifiable intangible assets
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$ |
72,130 |
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$ |
31,891 |
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$ |
40,239 |
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$ |
72,130 |
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$ |
30,419 |
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$ |
41,711 |
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These assets are being amortized over useful lives ranging from 2 to 16 years. The weighted-average amortization period for these intangibles as of March 31, 2024, is 9.3 years. Amortization expense is included in general and administrative expense and is as follows:
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Three months ended March 31,
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2024
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2023
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(in thousands)
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Amortization expense
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$ |
1,472 |
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$ |
1,559 |
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Estimated amortization expense for the remainder of 2024 and for each of the next five fiscal years is as follows:
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Year ended December 31,
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2024
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2025
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2026
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2027
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2028
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2029
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(in thousands)
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Amortization expense
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$ |
4,385 |
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$ |
5,601 |
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$ |
5,119 |
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$ |
4,842 |
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$ |
4,456 |
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$ |
4,423 |
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