Goodwill and Other Intangible Assets

9 Months Ended

Sep. 30, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Other Intangible Assets

Note 8—Goodwill and Other Intangible Assets

The Company’s other intangible assets consist of customer relationships, trade names, patents and non-compete agreements which were obtained through acquisitions and are recorded at their fair values at the date of acquisition. Intangible assets with determinable lives are amortized on a straight-line basis over their estimated useful lives. The weighted-average amortization period of customer relationships, trade names, patents and non-compete agreements are approximately 10 years, 13 years, 8 years and 4 years, respectively.

The following table sets forth the estimated amortization expense for intangibles subject to amortization for the remainder of 2023, the following five fiscal years and thereafter:

Period/Year	Total Amortization Expense
	(in thousands)
October 1 to December 31, 2023	$	671
2024	$	2,685
2025	$	2,685
2026	$	2,666
2027	$	1,195
2028	$	613
Thereafter	$	2,284

Amortization expense for the three months ended September 30, 2023 and 2022 was $0.7 million and $1.2 million. Amortization expense for the nine months ended September 30, 2023 and 2022 was $3.1 million and $3.7 million.