Intangible Assets

12 Months Ended

Dec. 31, 2023

Intangible Assets [Abstract]

Intangible Asset

Note 7. Intangible Asset

The following table provides the Company's carrying amount of the intangible asset for each of the periods indicated.

	Gross carrying amount		Accumulated amortization		Net carrying amount		Remaining weighted-average useful life
Balance at December 31, 2022
Finite-lived intangible asset	$	63,800	$	4,139	$	59,661	10-years
Balance at December 31, 2023
Finite-lived intangible asset	$	63,800	$	10,514	$	53,286	9-years

Amortization expense was approximately $6.4 million and $4.1 million for the years ended December 31, 2023 and 2022, respectively.

Based on the finite-lived intangible asset recorded as of December 31, 2023, and assuming the underlying asset will not be impaired and that we will not change the expected life of the asset, future amortization expenses over the next five years and periods thereafter are estimated to be as follows:

	Estimated amortization expense
2024	$	6,392
2025		6,375
2026		6,375
2027		6,375
2028		6,392
Thereafter		21,377
Total	$	53,286