(7)	Trademarks, Licenses and Other Intangible Assets

2024	Gross		Accumulated		Net Book
	Amount		Amortization		Value
Trademarks (indefinite lives)	$	116,187	$	—	$	116,187
Trademarks (finite lives)		40,732		599		40,133
Licenses (finite lives)		202,852		79,800		123,052
Other intangible assets (finite lives)		20,238		17,126		3,112
Subtotal		263,822		97,525		166,297
Total	$	380,009	$	97,525	$	282,484

2023	Gross		Accumulated		Net Book
	Amount		Amortization		Value
Trademarks (indefinite lives)	$	108,760	$	—	$	108,760
Trademarks (finite lives)		42,752		66		42,686
Licenses (finite lives)		215,307		73,264		142,043
Other intangible assets (finite lives)		19,524		16,657		2,867
Subtotal		277,583		89,987		187,596
Total	$	386,343	$	89,987	$	296,356

Amortization expense was $13.6 million, $7.5 million and $6.8 million in 2024, 2023 and 2022, respectively. Amortization expense is expected to approximate $13.8 million in 2025, $12.2 million in 2026, $11.8 million in 2027, and $11.0 million in 2028 and 2029. The weighted average amortization period for trademarks, licenses and other intangible assets with finite lives are 18 years, 14.3 years and 2.5 years, respectively, and 13.9 years on average.

The Company reviews intangible assets with indefinite lives for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. There was an impairment charge for trademarks with indefinite useful lives of $4.0 million and $6.8 million in 2024 and 2022, respectively, relating to our Rochas fashion business and an impairment charge for trademarks with indefinite useful lives of $0.9 million in 2022 relating to our Intimate trademark. There was no impairment charge for trademarks with indefinite useful lives in 2023. The fair values used in our evaluations are estimated based upon discounted future cash flow projections using a weighted average cost of capital of 9.47%, 10.39%, and 9.80% as of December 31, 2024, 2023 and 2022, respectively. The cash flow projections are based upon a number of assumptions, including future sales levels and future cost of goods and operating expense levels, as well as economic conditions, changes to our business model or changes in consumer acceptance of our products which are more subjective in nature. The Company believes that the assumptions it has made in projecting future cash flows for the evaluations described above are reasonable and currently no other impairment indicators exist for our indefinite-lived assets. However, if future actual results do not meet our expectations, the Company may be required to record an impairment charge, the amount of which could be material to our results of operations.

The cost of trademarks, licenses and other intangible assets with finite lives is being amortized by the straight-line method over the term of the respective license or the intangible assets estimated useful life which range from three to twenty years. If the residual value of a finite life intangible asset exceeds its carrying value, then the asset is not amortized. The Company reviews intangible assets with finite lives for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable.

Trademarks (finite lives) primarily represent Lanvin brand names and trademarks and in connection with their purchase, Lanvin was granted the right to repurchase the brand names and trademarks on July 1, 2027 for €70 million (approximately $73 million), representing the residual value, in accordance with an amendment signed in 2021. Because the residual value of the intangible asset exceeds its carrying value, the asset is not being amortized.