OTHER INTANGIBLES, NET

3 Months Ended

Mar. 31, 2025

OTHER INTANGIBLES, NET

OTHER INTANGIBLES, NET

10. OTHER INTANGIBLES, NET

Intangible assets are amortized over their legal or estimated useful life. The following table provides a summary of the gross carrying value and accumulated amortization by each major intangible class as of March 31, 2025, and December 31, 2024:

			March 31, 2025				December 31, 2024
	Estimated Useful Life (in years)		Gross Carrying Amount		Accumulated Amortization		Gross Carrying Amount		Accumulated Amortization
(in thousands)
Finite-lived Intangibles:
Customer relationships	10	$	10,000	$	(1,750)	$	10,000	$	(1,500)
Trade names and trademarks	10		3,519		(879)		3,519		(799)
Software licenses	3		5,350		(2,989)		5,350		(2,727)
		$	18,869	$	(5,618)	$	18,869	$	(5,026)

Amortization expense for each of the periods presented follows:

	Three months ended
	March 31,
(in thousands)		2025		2024
Amortization of finite-lived intangible assets	$	593	$	523

Estimated future amortization expense based on balances as of March 31, 2025, were as follows: $1.8 million for the remainder of 2025; $2.4 million for the year 2026; $1.8 million for the year 2027 and $1.3 million for the years 2028 and 2029.