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Intangible Assets and Goodwill
 12 Months Ended
Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
Intangible Assets and Goodwill Intangible Assets and Goodwill
Intangible Assets
Our intangible assets consist of the following:
 December 31,
 20242023
Definite-lived intangible assets(in thousands)
Intellectual property$12,450 $12,450 
Customer relationships47,547 47,547 
Capitalized internal-use software22,265 3,323 
Less:  Accumulated amortization(18,573)(9,838)
               Total, net63,689 53,482 
Indefinite-lived intangible assets
Trademarks14,571 14,571 
Total intangible assets, net$78,260 $68,053 

Amortization expense is as follows:
 Years Ended December 31,
 202420232022
(in thousands)
Amortization expense$8,735 $5,331 $3,599 
The weighted-average amortization period for definite-lived intangible assets are as follow as of December 31, 2024:
(in years)
Intellectual property17.3
Customer relationships10.9
Capitalized internal-use software2.7
Definite-lived intangible assets11.4

Total future amortization expense for finite-lived intangible assets was estimated as follows:
 (in thousands)
2025$7,018 
20265,403 
20275,356 
20284,891 
20294,528 
Thereafter24,792 
Total future amortization expense51,988 
Internal-use software projects in process11,701 
Total$63,689 
Goodwill
The changes in the carrying amount of goodwill were as follows:
Years Ended December 31,
202420232022
(in thousands)
Balance, beginning of period
$81,892 $81,892 $85,727 
Decreases due to acquisition adjustments
— — (3,835)
Balance, end of period$81,892 $81,892 $81,892 
The acquisition adjustments were recorded during the first quarter of 2022. The revisions were the result of the finalization of our preliminary estimates and third-party valuation models related to the acquisition of BASX (Note 17) in 2021. The impact of such revisions on consolidated net income was not significant.