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Note 14 - Intangible Assets, Net | 3 Months Ended
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Mar. 31, 2025
Notes to Financial Statements |
Intangible Assets Disclosure [Text Block] |
14. | Intangible assets, net
The following table summarizes our intangible assets comprising of Customer Relationships & Contracts (“CR&C”), Trademarks, Technology and Software as of March 31, 2025 and December 31, 2024 (in thousands):
|  | March 31, 2025 |  |  | December 31, 2024 |  |  | March 31, 2025 |
|  | Gross carrying amount |  |  | Accumulated impairment and amortization |  |  | Net book value |  |  | Gross carrying amount |  |  | Accumulated impairment and amortization |  |  | Net book value |  |  | Weighted average remaining life (years) |
CR&C |  | $ | 302,605 |  |  | $ | (171,522 | ) |  | $ | 131,083 |  |  | $ | 302,605 |  |  | $ | (164,817 | ) |  | $ | 137,788 |  |  |  | 7.2 |
Trademarks |  |  | 64,244 |  |  |  | (42,380 | ) |  |  | 21,864 |  |  |  | 64,244 |  |  |  | (41,141 | ) |  |  | 23,103 |  |  |  | 4.9 |
Technology |  |  | 229,022 |  |  |  | (99,417 | ) |  |  | 129,605 |  |  |  | 229,022 |  |  |  | (95,713 | ) |  |  | 133,309 |  |  |  | 10.6 |
Software |  |  | 21,658 |  |  |  | (18,007 | ) |  |  | 3,651 |  |  |  | 21,494 |  |  |  | (16,838 | ) |  |  | 4,656 |  |  |  | 0.8 |
Total |  | $ | 617,529 |  |  | $ | (331,326 | ) |  | $ | 286,203 |  |  | $ | 617,365 |  |  | $ | (318,509 | ) |  | $ | 298,856 |  |  |  | 8.5 |
Amortization expense for intangible assets was $12.8 million for the three months ended March 31, 2025, and $10.5 million for the three months ended March 31, 2024, respectively. The following table summarizes the intangible assets which were acquired pursuant to the Coretrax Acquisition (in thousands):
|  | Acquired Fair Value |  |  | Weighted average life (years) |
Coretrax: |  |  |  |  |  |  |  |
CR&C |  | $ | 45,883 |  |  |  | 13.0 |
Trademarks |  |  | 5,251 |  |  |  | 5.0 |
Software |  |  | 648 |  |  |  | 1.0 |
Technology |  |  | 49,868 |  |  |  | 10-15 |
Total |  | $ | 101,650 |  |  |  | 13.0 |

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