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INTANGIBLE ASSETS
9 Months Ended
Sep. 30, 2023
INTANGIBLE ASSETS  
INTANGIBLE ASSETS

7.    INTANGIBLE ASSETS

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Intangible assets on the Company’s condensed consolidated balance sheets consist of the following:

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September 30, 2023

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December 31, 2022

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Gross

    

Accumulated

    

Net Book

    

Gross

    

Accumulated

    

Net Book

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Life

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Amount

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Amortization

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Value

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Amount

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Amortization

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Value

Customer lists

 

5 – 18 years

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$

116,184

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$

(40,156)

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$

76,028

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$

112,378

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$

(34,377)

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$

78,001

Trade name

 

10 – 19 years

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15,441

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(7,676)

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7,765

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15,320

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(6,900)

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8,420

Design and technologies

 

10 – 15 years

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41,129

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(11,131)

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29,998

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41,212

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(8,558)

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32,654

Total

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$

172,754

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$

(58,963)

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$

113,791

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$

168,910

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$

(49,835)

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$

119,075

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Amortization expense for intangible assets was $3,075 and $3,054 for the three months ended September 30, 2023 and 2022, respectively. For the nine months ended September 30, 2023 and 2022, amortization expense was $9,226 and $8,133, respectively.

Estimated future intangible asset amortization expense as of September 30, 2023 is as follows:

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Year ending December 31, 

    

Total

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Estimated

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Amortization Expense

Remainder of 2023

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$

3,044

2024

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12,144

2025

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12,129

2026

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12,032

2027

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11,589

Thereafter

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62,853

Total estimated amortization expense

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$

113,791

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