Intangible Assets

6 Months Ended

Jun. 30, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets

Intangible Assets

The changes in carrying amounts of intangible assets consisted of the following as of June 30, 2022:

(In thousands)	Trade Names		Technology and Intellectual Property		Customer Relationships		Lease		Total
December 31, 2021	$	29,506	$	54,521	$	30,612	$	674	$	115,313
Additions	—		7,250		—		—		7,250
Amortization	(1,579)		(5,949)		(1,672)		(84)		(9,284)
Impairments	(680)		—		—		—		(680)
Foreign exchange	—		(2,036)		—		—		(2,036)
June 30, 2022	$	27,247	$	53,786	$	28,940	$	590	$	110,563

No impairment charge was recognized during the three months ended June 30, 2022 and an impairment charge of $0.7 million was recognized during the six months ended June 30, 2022 at TTC. No impairment charge was recognized during the three and six months ended June 30, 2021.

The estimated useful lives of trade names are 3-10 years, the estimated useful lives of technology and intellectual property are 5-7 years, and the estimated useful life of customer relationships is 10 years.

Amortization expense was $4.2 million and $2.7 million for the three months ended June 30, 2022 and 2021, respectively. Amortization expense was $9.3 million and $3.5 million for the six months ended June 30, 2022 and 2021, respectively.

The estimated amortization expense related to definite-lived intangible assets for the five succeeding years is as follows:

(In thousands)	Trade Name Amortization		Technology and Intellectual Property Amortization		Customer Relationships Amortization		Lease Amortization		Total
Remaining 2022	$	1,672	$	5,120	$	1,641	$	80	$	8,513
2023	2,717		10,273		3,313		165		16,468
2024	2,650		10,273		3,313		165		16,401
2025	2,650		10,273		3,313		165		16,401
2026	2,650		9,622		3,313		15		15,600
Thereafter	14,908		8,225		14,047		—		37,180
	$	27,247	$	53,786	$	28,940	$	590	$	110,563