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Intangible Assets | 12 Months Ended
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Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract] |
Intangible Assets | Intangible Assets Intangible assets consisted of the following (in thousands):
| Gross Carrying Value |  | Accumulated Amortization |  | Net Carrying Value
Customer relationships | $ | 75,965 |  |  | $ | (5,352) |  |  | $ | 70,613 |
Completed technologies | 62,123 |  |  | (20,745) |  |  | 41,378 |
Trademarks | 903 |  |  | (50) |  |  | 853 |
Non-compete agreements | 340 |  |  | (232) |  |  | 108 |
Balance as of December 31, 2023 | $ | 139,331 |  |  | $ | (26,379) |  |  | $ | 112,952 |
| Gross Carrying Value |  | Accumulated Amortization |  | Net Carrying Value
Completed technologies | $ | 28,017 |  |  | $ | (17,744) |  |  | $ | 10,273 |
Customer relationships | 5,838 |  |  | (3,860) |  |  | 1,978 |
Non-compete agreements | 340 |  |  | (177) |  |  | 163 |
Balance as of December 31, 2022 | $ | 34,195 |  |  | $ | (21,781) |  |  | $ | 12,414 |
In connection with the acquisition of Moritex Corporation in the fourth quarter of 2023 (refer to Note 21), the Company acquired customer relationships valued at $66,900,000 with an estimated useful life of fifteen years, completed technologies valued at $32,300,000 with an estimated useful life of nine years, and trademarks valued at $850,000 with an estimated useful life of three years. In connection with the acquisition of SAC Sirius Advanced Cybernetics GmbH ("SAC") in the fourth quarter of 2022, (refer to Note 21), the Company acquired completed technologies valued at $3,800,000 with an estimated useful life of 7 years. In 2022, the Company retired approximately $43,280,000 of intangible assets primarily related to distribution networks and customer relationships that were fully amortized and had a net carrying value of zero on the Consolidated Balance Sheets. The Company did not record impairment charges related to intangible assets in 2023, 2022 or 2021. Estimated amortization expense for each of the five succeeding fiscal years and thereafter is as follows (in thousands):
Year Ended December 31, |  | Amount
2024 |  | $ | 11,389 |
2025 |  | 11,066 |
2026 |  | 10,711 |
2027 |  | 9,737 |
2028 |  | 9,008 |
Thereafter |  | 61,041 |
|  | $ | 112,952 |

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- Definition The entire disclosure for all or part of the information related to intangible assets. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//350-30/tableOfContent + Details
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