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Intangible Assets and Goodwill | 9 Months Ended
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Sep. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract] |
Intangible Assets and Goodwill | NOTE 7. INTANGIBLE ASSETS AND GOODWILL Intangible Assets. A summary of intangible assets as of September 30, 2024 and December 31, 2023 is as follows.
|  | September 30, 2024 |
(in thousands) |  | Gross Carrying Amount |  |  | Accumulated Amortization |  |  | Net Carrying Amount |
Customer relationships |  | $ | 78,166 |  |  | $ | (44,306 | ) |  | $ | 33,860 |
Non-compete agreements |  |  | 500 |  |  |  | (375 | ) |  |  | 125 |
Trade names |  |  | 10,980 |  |  |  | (9,178 | ) |  |  | 1,802 |
Technology, Patents, and Other |  |  | 26,133 |  |  |  | (26,133 | ) |  |  | — |
Total |  | $ | 115,779 |  |  | $ | (79,992 | ) |  | $ | 35,787 |
|  | December 31, 2023 |
(in thousands) |  | Gross Carrying Amount |  |  | Accumulated Amortization |  |  | Net Carrying Amount |
Customer relationships |  | $ | 78,166 |  |  | $ | (38,511 | ) |  | $ | 39,655 |
Non-compete agreements |  |  | 500 |  |  |  | (321 | ) |  |  | 179 |
Trade names |  |  | 10,980 |  |  |  | (9,006 | ) |  |  | 1,974 |
Technology, Patents, and Other |  |  | 26,133 |  |  |  | (26,133 | ) |  |  | — |
Total |  | $ | 115,779 |  |  | $ | (73,971 | ) |  | $ | 41,808 |
Amortization expense on intangible assets was $2.0 million and $2.0 million for the three months ended September 30, 2024 and 2023 respectively, and $6.0 million and $6.0 million for the nine months ended September 30, 2024 and 2023, respectively. Impairment.We analyzed definite lived intangible assets for impairment as of September 30, 2024 and December 31, 2023, in accordance with Accounting Standards Codification 360 Property, Plant, and Equipment, noting no impairment indicators were present. We analyzed goodwill for impairment as of September 30, 2024 and December 31, 2023, in accordance with Accounting Standards Codification 350 Intangibles—Goodwill and Other, noting no impairment indicators were present. For our annual goodwill impairment test as of December 31, 2023, we performed a qualitative assessment to determine if it was more likely than not (that is, a likelihood of more than 50 percent) that the fair value of our reporting unit was less than its carrying value as of the test date. We evaluated events and circumstances since the date of our last quantitative or qualitative assessment, including macroeconomic conditions, industry and market conditions, and our overall financial performance, and it was determined that the reporting unit fair value was, more likely than not, greater than the carrying amount. Therefore, no impairment charges were recorded related to goodwill for the periods ended September 30, 2024 and December 31, 2023. The following table presents a roll-forward of goodwill for the periods ended September 30, 2024 and December 31, 2023:
(in thousands) |  | Goodwill, Gross |  |  | Accumulated Impairment |  |  | Goodwill, Net |
Balance at December 31, 2022 |  | $ | 94,436 |  |  | $ | (70,504 | ) |  | $ | 23,932 |
Additions |  |  | — |  |  |  | — |  |  |  | — |
Balance at December 31, 2023 |  | $ | 94,436 |  |  | $ | (70,504 | ) |  | $ | 23,932 |
Additions |  |  | — |  |  |  | — |  |  |  | — |
Balance at September 30, 2024 |  | $ | 94,436 |  |  | $ | (70,504 | ) |  | $ | 23,932 |

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