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GOODWILL AND INTANGIBLE ASSETS | 12 Months Ended
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Dec. 31, 2024
GOODWILL AND INTANGIBLE ASSETS | 13. GOODWILL AND INTANGIBLE ASSETS The changes in the carrying amount of goodwill are as follows:
Balance at December 31, 2022 |  | $ | 430,711 |
Acquired goodwill |  |  | 25,547 |
Foreign currency translation adjustment |  |  | 890 |
Balance at December 31, 2023 |  |  | 457,148 |
Acquired goodwill |  |  | 2,469 |
Adjustment to goodwill related to 2023 acquisition |  |  | (12 | )
Foreign currency translation adjustment |  |  | (7,747 | )
Balance at December 31, 2024 |  | $ | 451,858 |
Intangible assets are comprised of the following:
December 31, |  | Estimated Useful Lives in Years |  | 2024 |  |  | 2023 |
Indefinite lived intangible assets - Trade names, trademarks, and distribution rights |  |  |  | $ | 165,910 |  |  | $ | 174,779 |
Finite lived intangible assets: |  |  |  |  |  |  |  |  |  |
Customer relationships |  | 7-18 |  |  | 107,149 |  |  |  | 110,489 |
Patented and unpatented technology |  | 7 |  |  | 1,517 |  |  |  | 1,650 |
Trade name |  | 10 |  |  | 4,293 |  |  |  | 1,150 |
Accumulated amortization |  |  |  |  | (70,397 | ) |  |  | (69,922 | )
Finite lived intangible assets, net |  |  |  |  | 42,562 |  |  |  | 43,367 |
|  |  |  | $ | 208,472 |  |  | $ | 218,146 |
Amortization expense related to finite lived intangible assets included in selling, general and administrative expenses for the years ended December 31, 2024, 2023, and 2022, were $5,431, $4,323, and $4,709, respectively. Based on the finite lived intangible assets recorded at December 31, 2024, annual amortization for the next five years is expected to approximate the following:
2025 |  | $ | 5,200 |
2026 |  | $ | 5,100 |
2027 |  | $ | 3,400 |
2028 |  | $ | 2,500 |
2029 |  | $ | 2,500 |

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-30/tableOfContent Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-20/tableOfContent + Details
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