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Goodwill and Intangible Assets | 12 Months Ended
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Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Intangible Assets | 11. Goodwill and Intangible Assets Goodwill The following table summarizes the change in goodwill, which was acquired in the acquisition of Great North in 2023 (in millions):
|  | Total |
Net balance as of December 31, 2022 |  | $ | - |
Addition due to business combination |  |  | 16.8 |
Impairments |  |  | - |
Foreign currency translation |  |  | (0.1 | )
Net balance as of December 31, 2023 (1) |  | $ | 16.7 |
(1) As of December 31, 2023, the Goodwill balance is included in long-lived assets in the Well Construction business segment. Intangible Assets Intangible assets, the majority of which were acquired in the acquisition of TIW Corporation in 2016, OilPatch Technologies in 2017, and Great North in July 2023, consist of the following:
|  | Estimated Useful Lives |  | December 31, 2023 |
|  |  |  | Gross Book Value |  |  | Accumulated Amortization |  |  | Foreign Currency Translation |  |  | Net Book Value |
|  |  |  | (In thousands) |
Trademarks |  | 10 - 15 years |  | $ | 12,091 |  |  | $ | (2,811 | ) |  | $ | 4 |  |  | $ | 9,284 |
Patents |  | 15 - 30 years |  |  | 9,686 |  |  |  | (4,200 | ) |  |  | (22 | ) |  |  | 5,464 |
Customer relationships |  | 5 - 15 years |  |  | 40,291 |  |  |  | (13,095 | ) |  |  | (3 | ) |  |  | 27,193 |
Organizational Costs |  | 3 years |  |  | 163 |  |  |  | (163 | ) |  |  | - |  |  |  | - |
|  |  |  | $ | 62,231 |  |  | $ | (20,269 | ) |  | $ | (21 | ) |  | $ | 41,941 |
|  | Estimated Useful Lives |  | December 31, 2022 |
|  |  |  | Gross Book Value |  |  | Accumulated Amortization |  |  | Foreign Currency Translation |  |  | Net Book Value |
|  |  |  | (In thousands) |
Trademarks |  | 10 - 15 years |  | $ | 8,233 |  |  | $ | (2,118 | ) |  | $ | (79 | ) |  | $ | 6,036 |
Patents |  | 15 - 30 years |  |  | 6,055 |  |  |  | (3,699 | ) |  |  | - |  |  |  | 2,356 |
Customer relationships |  | 5 - 15 years |  |  | 26,028 |  |  |  | (10,878 | ) |  |  | (234 | ) |  |  | 14,916 |
Organizational costs |  | 3 years |  |  | 183 |  |  |  | (131 | ) |  |  | (12 | ) |  |  | 40 |
|  |  |  | $ | 40,499 |  |  | $ | (16,826 | ) |  | $ | (325 | ) |  | $ | 23,348 |
Amortization expense was $3.6 million, $2.8 million, $3.0 million, respectively for each of the years 2023, 2022 and 2021. Based on the carrying value of intangible assets at December 31, 2023, amortization expense for the subsequent five years is estimated to be as follows: 2024 — $4.9 million; 2025 — $4.8 million; 2026 — $4.8 million; 2027 — $4.6 million; and 2028 — $4.6 million.

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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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