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Note 14 - Intangible Assets, Net

6 Months Ended

Jun. 30, 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 June 30, 2025 and December 31, 2024 (in thousands):

		*June 30, 2025*												*December 31, 2024*												*June 30, 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			$	(178,228	)		$	124,377			$	302,605			$	(164,817	)		$	137,788				7.1
Trademarks			64,244				(43,619	)			20,625				64,244				(41,141	)			23,103				4.6
Technology			229,022				(103,121	)			125,901				229,022				(95,713	)			133,309				10.4
Software			21,770				(19,216	)			2,554				21,494				(16,838	)			4,656				0.8
Total		$	617,641			$	(344,184	)		$	273,457			$	617,365			$	(318,509	)		$	298,856				8.3

Amortization expense for intangible assets was $12.9 million and $25.7 million for the three and six months ended June 30, 2025, respectively, and $11.7 million and $22.2 million for the three and six months ended June 30, 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