Intangible Assets and Deferred Charges

6 Months Ended

Jun. 30, 2026

Intangible Asset, Goodwill and Other [Abstract]

Intangible assets represent the fair value of intellectual, non-physical assets resulting from business acquisitions and are amortized over their estimated useful life using an accelerated method over a period ranging from three to 20 years. The weighted average amortization period for the customer relationships is approximately 17.52 years. Amortization expense is included in selling, general, and administrative expense on the unaudited condensed consolidated statements of income (loss).

The balance of intangible assets from continuing operations subject to amortization are as follows:


	June 30, 2026				December 31, 2025
(in thousands)	Gross Carrying Amount		Accumulated Amortization		Gross Carrying Amount		Accumulated Amortization
Definite-lived intangible assets:
Customer related	$	12,500	$	(3,195)	$	5,100	$	(2,779)
Trademarks and trade names	415		(56)		150		(32)
Other	500		(156)		500		(106)
Total definite-lived intangible assets	$	13,415	$	(3,407)	$	5,750	$	(2,917)

Estimated amortization expense related to intangible assets for the next five years are as follows:


(in thousands)
Remainder of 2026	$	1,178
2027	1,894
2028	1,445
2029	1,129
2030	891
2031	727
Thereafter	$	2,744

Deferred charges represent debt issuance costs and are amortized over their estimated useful lives using the straight-line method over a period of 2.5 years.

The balance of deferred charges subject to amortization are as follows:


(in thousands)	June 30, 2026		December 31, 2025
Deferred charges, gross	$	506	$	506
Accumulated amortization of deferred charges	(205)		(105)
Deferred charges, net	$	301	$	401