INTANGIBLE ASSETS

3 Months Ended

Mar. 31, 2025

Goodwill and Intangible Assets Disclosure [Abstract]

The carrying values and accumulated amortization for definite-lived intangible assets were as follows (in thousands):


March 31, 2025	Weighted Average Life (years)	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Customer relationships	5.4	$	68,770	$	30,676	$	38,094
Trade names	11.2	40,900		10,418		30,482
Total		$	109,670	$	41,094	$	68,576


December 31, 2024	Weighted Average Life (years)	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Customer relationships	5.6	$	68,770	$	28,869	$	39,901
Trade names	11.5	40,900		9,737		31,163
Total		$	109,670	$	38,606	$	71,064

There were no impairments to or disposals of definite-lived intangible assets recognized for the three months ended March 31, 2025 and 2024.

We are continuously evaluating whether events or changes in circumstances indicate that an intangible asset may not be recoverable including an adverse change in the extent in which an intangible asset is used, our market capitalization, macroeconomic trends, and other events and uncertainties. Negative trends in these factors could result in a non-cash charge for impairment to intangible assets in a future period.

Amortization expense relating to definite-lived intangible assets for the three months ended March 31, 2025 and 2024 was $2.5 million and $2.9 million, respectively. Estimated amortization expense relating to definite-lived intangible assets for the remainder of 2025 and for each of the next five full years ending December 31 is as follows (in thousands):


2025 (April-December)	$	7,464
2026	$	9,952
2027	$	9,952
2028	$	8,673
2029	$	8,673
2030	$	8,673