Intangible Assets

6 Months Ended

Jun. 30, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Our intangible assets are comprised of both indefinite-lived and finite-lived intangible assets. Intangible assets with indefinite lives are not amortized; rather, they are reviewed for impairment at least annually or whenever events or circumstances indicate the carrying value of the asset may not be recoverable. We perform our annual impairment test of our indefinite-lived intangible assets during the fourth quarter of each fiscal year, and the results from the test performed in the fourth quarter of 2023 indicated no impairment. We also reevaluate the useful life of indefinite-lived intangible assets each reporting period to determine whether events and circumstances continue to support an indefinite useful life.

As of both June 30, 2024 and December 31, 2023, our goodwill balance was $0.6 million.

Our intangible assets, other than goodwill, as of June 30, 2024 and December 31, 2023 were as follows (in thousands, except for weighted average remaining useful life):


		As of June 30, 2024			As of December 31, 2023
	Weighted Average Remaining Useful Life (in years)	Gross Carrying Amount	Accumulated Amortization	Net Carrying Amount	Gross Carrying Amount	Accumulated Amortization	Net Carrying Amount
Amortized intangible assets:
Software	7.3	$73,454	$(46,250)	$27,204	$68,155	$(45,910)	$22,245
Other intangible assets	8.6	945	—	945	499	—	499
Service customer relationships		8,081	(8,081)	—	8,081	(8,081)	—
OEM and dealer relationships		6,724	(6,724)	—	6,724	(6,724)	—
Total amortized intangible assets		89,204	(61,055)	28,149	83,459	(60,715)	22,744
Unamortized intangible assets:
FCC Licenses		32,283	—	32,283	32,283	—	32,283
Total intangible assets		$121,487	$(61,055)	$60,432	$115,742	$(60,715)	$55,027

Amortization expense was $0.2 million and $0.4 million, respectively, for the three- and six-month periods ended June 30, 2024 and $0.6 million and $1.2 million, respectively, for the prior-year periods.

Amortization expense for the remainder of 2024, each of the next four years and thereafter is estimated to be as follows (in thousands):


		Amortization
Years ending December 31,		Expense
2024 (period from July 1 to December 31)		$417
2025		$3,246
2026		$4,035
2027		$3,867
2028		$3,662
Thereafter		$12,922

Actual future amortization expense could differ from the estimated amount as a result of future investments and other factors.