Goodwill and Other Intangible Assets

9 Months Ended

Sep. 30, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill

There were no changes in the carrying amount of goodwill during the nine months ended September 30, 2024. Goodwill totaled $69.9 million as of September 30, 2024 and December 31, 2023.

Other Intangible Assets

Other intangible assets, net consists of the following (in thousands):


	Estimated Useful Lives (Years)	September 30, 2024		December 31, 2023
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 intangibles		102,200		102,200
Accumulated amortization:
Customer relationships		30,170		27,135
Developed technology		19,518		17,522
Trade names		6,933		6,275
Backlog		600		600
Noncompete agreements		2,000		2,000
Total accumulated amortization		59,221		53,532
Total other intangible assets, net		$	42,979	$	48,668

Amortization expense related to intangible assets amounted to $1.9 million and $2.0 million for the three months ended September 30, 2024 and 2023, respectively, and $5.7 million and $6.0 million for the nine months ended September 30, 2024 and 2023, respectively.