Other Intangible Assets

6 Months Ended

Jun. 30, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Other Intangible Assets

Other Intangible Assets

The following table presents the detail of acquired intangible assets:

	June 30, 2024						December 31, 2023
	Gross Cost		Accumulated Amortization		Net Cost		Gross Cost		Accumulated Amortization		Net Cost
Customer relationships	$	100,300	$	(8,916)	$	91,384	$	100,300	$	(5,572)	$	94,728
Developed technology	77,000		(10,267)		66,733		77,000		(6,417)		70,583
Tradename	16,000		(2,133)		13,867		16,000		(1,333)		14,667
Backlog	7,000		(7,000)		—		7,000		(7,000)		—
Total	$	200,300	$	(28,316)	$	171,984	$	200,300	$	(20,322)	$	179,978

All intangible assets are amortized over their estimated useful lives. The weighted average amortization period for identifiable intangible assets acquired as of June 30, 2024 is 11.3 years. Amortization expense recognized during the three and six months ended June 30, 2024 was $4.0 million and $8.0 million, respectively, and was recorded in selling, general and administrative expenses in the consolidated statements of income. Estimated future amortization expense is as follows:

Remainder of 2024	$	7,993
2025	15,987
2026	15,987
2027	15,987
2028	15,987
2029	15,987
Thereafter	84,056
Total	$	171,984