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Goodwill and intangible assets
 9 Months Ended
Sep. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and intangible assets Goodwill and intangible assets
Goodwill
Goodwill represents the difference between the purchase price and the estimated fair value of identifiable assets acquired and liabilities assumed. Goodwill acquired in a business combination is determined to have an indefinite useful life and is not amortized but instead is tested for impairment at least annually in accordance with ASC 350.
Intangible assets
Intangible assets, net consisted of the following as of September 30, 2023 and December 31, 2022:
(In thousands, except weighted average useful life)September 30, 2023
Intangible assets:
Gross Carrying
Value
Accumulated
Amortization
Net Carrying
Value
Weighted
Average Useful
Life (in years)
Customer relationships(1)
$9,936 $(4,081)$5,855 10.9
Tradenames(1)
8,134 (1,921)6,213 11.5
Technology - acquired(1)
18,372 (8,541)9,831 4.3
Non-compete agreements750 (585)165 1.0
Total intangible assets$37,192 $(15,128)$22,064 7.6
(1) The entirety of the gross carrying values and accumulated amortization of the specified intangible assets above associated with the Freezer Business were impaired during the three months ended September 30, 2023. Refer to Note 3: Impairment of property and equipment and definite-lived intangible assets for more information on the assessed non-cash impairment charges.
(In thousands, except weighted average useful life)December 31, 2022
Intangible assets:
Gross Carrying
Value(1)
Accumulated
Amortization(1)
Net Carrying
Value
Weighted
Average Useful
Life (in years)(1)
Customer relationships$10,496 $(3,328)$7,168 8.8
Tradenames11,328 (1,794)9,534 11.8
Technology - acquired23,802 (8,705)15,097 5.3
Non-compete agreements750 (461)289 1.8
Total intangible assets$46,376 $(14,288)$32,088 8.0
(1) Both the Gross Carrying Value and Accumulated Amortization balances as of December 31, 2022 contain immaterial adjustments to reflect impairments taken during the year ended December 31, 2022 on each of the intangible asset classes presented here. Each intangible asset class was adjusted as follows: Customer relationships: $0.8 million, Tradenames: $2.4 million, Technology - acquired: $4.1 million, and Non-compete agreements: $0.4 million. The Weighted Average Useful Life was additionally adjusted to reflect the updated balances subsequent to the impairment charges.
Amortization expense for definite-lived intangible assets was $1.4 million and $4.3 million for the three and nine months ended September 30, 2023, respectively and $2.5 million and $8.2 million for the three and nine months ended September 30, 2022, respectively. As of September 30, 2023, the Company expects to record the following amortization expense for definite-lived intangible assets:
(In thousands)Amortization
Expense
For the Years Ending December 31,
2023 (3 months remaining)$915 
20243,602 
20253,468 
20263,358 
20272,605 
Thereafter8,116 
Total$22,064