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GOODWILL AND OTHER INTANGIBLE ASSETS, NET
 12 Months Ended
Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]  
GOODWILL AND OTHER INTANGIBLE ASSETS GOODWILL AND OTHER INTANGIBLE ASSETS, NET
Changes in the carrying amount of Printronix's goodwill consisted of the following:
Years Ended December 31,
20232022
(In thousands)
Beginning balance$7,541 $7,470 
Acquisition of business— — 
Tax adjustment— 71 
Impairment losses— — 
Ending balance$7,541 $7,541 
Changes in the carrying amount of Benchmark's goodwill consisted of the following:
Years Ended December 31, 2023
(In thousands)
Beginning balance$— 
Acquisition of business1,449 
Impairment losses— 
Ending balance$1,449 
The ending balance of goodwill includes no accumulated impairment losses to date. Refer to Note 3 for additional information related to the Benchmark acquisition.
Other intangible assets, net consisted of the following:
December 31, 2023
Weighted Average Amortization PeriodGross Carrying AmountAccumulated AmortizationNet Book Value
(In thousands)
Patents:
Intellectual property operations6 years$341,403 $(316,114)$25,289 
Industrial operations7 years3,400 (1,083)2,317 
Total patents344,803 (317,197)27,606 
Customer relationships - industrial operations7 years5,300 (1,689)3,611 
Trade name and trademarks - industrial operations7 years3,430 (1,091)2,339 
Total$353,533 $(319,977)$33,556 
December 31, 2022
Weighted Average Amortization PeriodGross Carrying AmountAccumulated AmortizationNet Book Value
(In thousands)
Patents:
Intellectual property operations6 years$331,403 $(304,744)$26,659 
Industrial operations7 years3,400 (597)2,803 
Total patents334,803 (305,341)29,462 
Customer relationships - industrial operations7 years5,300 (931)4,369 
Trade name and trademarks - industrial operations7 years3,430 (603)2,827 
Total$343,533 $(306,875)$36,658 
Total other intangible asset amortization expense in the consolidated statements of operations was $13.1 million and $12.1 million for the years ended December 31, 2023 and 2022, respectively. The Company did not record charges related to impairment of other intangible assets for the years ended December 31, 2023 and 2022. There was no accelerated amortization of other intangible assets for the years ended December 31, 2023 and 2022. Intellectual Property Operations amortization of patents is expensed in cost of revenues and Industrial Operations amortization is expensed in general and administrative expenses.
The following table presents the scheduled annual aggregate amortization expense (in thousands):
Years Ending December 31,
202414,830 
202512,485 
20263,173 
20271,733 
20281,335 
Thereafter— 
Total$33,556 
During the year ended December 31, 2022, ARG entered into an agreement granting ARG the exclusive option to acquire all rights to license and enforce a patent portfolio and all future patents and patent applications, and incurred $15.0 million of certain patent and patent rights costs, of which $6.0 million was paid in 2022 and $9.0 million paid in 2023. The patent costs are included in prepaid expenses and other current assets in the consolidated balance sheet as of December 31, 2023. During the year ended December 31, 2023, ARG accrued certain patent and patent rights acquisition costs, of which $4.0 million is due January 31, 2024. As of December 31, 2023 and 2022, $4.0 million and $9.0 million was accrued, respectively, and included in accrued expenses and other current liabilities (see Note 9).