Goodwill was $1.24 billion and $1.38 billion at December 31, 2024 and 2023, respectively. Goodwill is tested for impairment on at least an annual basis, in accordance with the subsequent measurement provisions of the accounting guidance for goodwill. Consistent with prior years, the Company performed its annual impairment test in the third quarter of 2024 and determined that goodwill was not impaired.

During the second quarter of 2024, the Company experienced a triggering event, due to a sustained decline in its stock price and a market capitalization below the Company's book equity value. As a result, the Company performed an interim goodwill impairment assessment. This assessment resulted in a non-cash impairment charge of $126.4 million, representing the amount by which the Company's book value exceeded its implied fair value, based on its market capitalization plus an estimated control premium.

Recognition of this non-cash charge against goodwill resulted in a tax benefit which generated an additional deferred tax asset of $24.2 million that increased the Company's book value. An incremental non-cash charge was required to reduce the Company's book value to its previously determined fair value. Accordingly, the Company recorded the incremental non-cash charge of $24.2 million for a total non-cash charge of $150.6 million. A 1% change in the control premium used would have impacted the non-cash impairment charge by approximately $7.7 million.

During the fourth quarter of 2023, the Company experienced a triggering event, due to a sustained decline in its stock price and a market capitalization below the Company's book equity value. As a result, the Company performed an interim goodwill impairment assessment. This assessment resulted in a non-cash impairment charge of $125.0 million, representing the amount by which the Company's book value exceeded its implied fair value, based on its market capitalization plus an estimated control premium. Consideration was first given to other individual and group long-lived assets, and no impairment was considered necessary on such assets.

Recognition of this non-cash charge against goodwill resulted in a tax benefit which generated an additional deferred tax asset of $23.3 million that increased the Company's book value. An incremental non-cash charge was required to reduce the Company's book value to its previously determined fair value. Accordingly, we recorded the incremental non-cash charge of $23.3 million for a total non-cash charge of $148.3 million. A 1% change in the control premium used would have impacted the non-cash impairment charge by approximately $9.0 million.

Intangible assets, net, consist of the following (in thousands):


	December 31, 2024
	Gross Carrying Value		Accumulated Amortization			Net Carrying Value
Physician and hospital agreements	$	66,190	$	(61,606	)	$	4,584
Other technology		9,603		(2,592	)		7,011
	$	75,793	$	(64,198	)	$	11,595


	December 31, 2023
	Gross Carrying Value		Accumulated Amortization			Net Carrying Value
Physician and hospital agreements	$	105,577	$	(88,775	)	$	16,802
Other technology		8,591		(4,153	)		4,438
	$	114,168	$	(92,928	)	$	21,240

During the year ended December 31, 2024, the Company recorded intangible assets related to acquisitions totaling $0.2 million, consisting primarily of physician and hospital agreements. The weighted-average amortization period for these physician and hospital agreements is approximately 20 years.

Amortization expense for intangible assets was $7.1 million, $5.6 million and $6.4 million for the years ended December 31, 2024, 2023 and 2022, respectively.


2025	$	4,858
2026		3,026
2027		1,301
2028		491
2029		366