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GOODWILL AND INTANGIBLES | 12 Months Ended
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Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract] |
GOODWILL AND INTANGIBLES | GOODWILL AND INTANGIBLES As of December 31, 2023 and December 31, 2022, goodwill was approximately $14.2 million and $13.7 million, respectively. The carrying amount and accumulated amortization of intangible assets as of December 31, 2023 and December 31, 2022, were as follows:
| December 31, 2023 |  | December 31, 2022
Definite-lived intangible assets |  |  |
Customer relationships | $ | 13,902 |  |  | $ | 13,418 |
Less: accumulated amortization | (2,233) |  |  | (1,677) |
Effect of exchange rate changes | 9 |  |  | 67 |
Definite-lived intangible assets, net | $ | 11,678 |  |  | $ | 11,808 |
Indefinite-lived intangible assets |  |  |
Brands | $ | 446 |  |  | $ | 2,984 |
Less: impairment | — |  |  | (2,576) |
Effect of exchange rate changes | 15 |  |  | 38 |
Indefinite-lived intangible assets, net | $ | 461 |  |  | $ | 446 |
Intangibles-net | $ | 12,139 |  |  | $ | 12,254 |
Customer relationships are amortized over an estimated useful life of 25 years, while brands have an indefinite life. Amortization expense for the years ended December 31, 2023, 2022, and 2021 was approximately $0.5 million, $0.5 million, and $0.6 million, respectively and is reflected in selling, general and administrative expenses. Other fluctuations in the amounts of intangible assets are due to currency translation adjustments. The following was the future estimated amortization expense related to customer relationships as of December 31, 2023:
Years ending December 31, |  |
2024 |  | $ | 556 |
2025 |  | 556 |
2026 |  | 556 |
2027 |  | 556 |
2028 |  | 556 |
Thereafter |  | 8,898 |
Total |  | $ | 11,678 |

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 350 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//350/tableOfContent + Details
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