Intangible Assets

12 Months Ended

Dec. 31, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets

9.Intangible Assets

Intangible assets

The tables below present the activity and amortizations of finite-lived intangible assets:

	December 31,		December 31,
	2022		2021
Finite-lived intangible assets, beginning of period	$	35,240	$	35,240
Additions		—		—
Total finite-lived intangible assets, end of period	$	35,240	$	35,240
Accumulated amortization, beginning of period	$	(33,576)	$	(32,055)
Current year amortization		(1,239)		(1,521)
Total accumulated amortization		(34,815)		(33,576)
Net finite-lived intangible assets, end of period	$	425		1,664
Infinite-lived intangible assets		6,892		6,892
Total net intangible assets	$	7,317	$	8,556

Remaining net finite-lived intangible assets were acquired as part of the purchase of TAS during 2015 and TBC during 2017 and included customer relationships. Customer relationships were valued at approximately $18.8 million and are being amortized over eight years using an accelerated method based on the pattern in which the economic benefits of the assets are consumed. For the years ended December 31, 2022, 2021 and 2020, $1.2 million, $1.5 million and $2.1 million, respectively, of amortization expense was recognized for these assets. In 2022 and 2021, the Company evaluated the useful lives of these finite-lived intangible assets and no change was needed.

Future expense remaining of approximately $0.4 million will be amortized as follows:

2023		388
2024		37
	$	425

The annual impairment test for both 2022 and 2021 concluded that the fair value of the Company’s infinite-lived trade name was in excess of the carrying value, therefore no impairment was recorded in each respective year.