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INTANGIBLE ASSETS
9 Months Ended
Sep. 30, 2024
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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Weighted Average

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September 30, 2024

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December 31, 2023

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Amortization

    

Gross

    

Accumulated

    

Net Book

    

Gross

    

Accumulated

    

Net Book

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Period

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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

 

14.1 years

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$

118,164

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$

(48,641)

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$

69,523

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$

116,831

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$

(42,421)

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$

74,410

Trade name

 

13.7 years

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16,186

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(8,496)

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7,690

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15,572

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(7,916)

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7,656

Design and technologies

 

10.5 years

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42,245

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(14,865)

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27,380

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41,480

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(12,173)

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29,307

Total

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$

176,595

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$

(72,002)

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$

104,593

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$

173,883

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$

(62,510)

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$

111,373

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Amortization expense for intangible assets was $3,135 and $3,075 for the three months ended September 30, 2024 and 2023, respectively. For the nine months ended September 30, 2024 and 2023, amortization expense was $9,381 and $9,226, respectively.

Estimated future intangible asset amortization expense as of September 30, 2024 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 2024

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$

3,305

2025

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12,570

2026

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12,472

2027

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12,028

2028

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11,280

Thereafter

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52,938

Total estimated amortization expense

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$

104,593

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