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GOODWILL AND INTANGIBLE ASSETS, NET | 12 Months Ended
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Dec. 31, 2023
GOODWILL AND INTANGIBLE ASSETS, NET |
GOODWILL AND INTANGIBLE ASSETS, NET | 6.GOODWILL AND INTANGIBLE ASSETS, NET Goodwill The following table presents the changes in the carrying value of goodwill during the years ended December 31, 2023 and 2022 (in thousands): ​
​ | ​ | ​ | ​
​ |  | Amount
Balance as of December 31, 2021 | ​ | $ | 128,871
Acquisition | ​ |  | 2,753
Measurement period adjustment | ​ | ​ | 384
Foreign currency translation adjustment | ​ |  | (625)
Balance as of December 31, 2022 | ​ | ​ | 131,383
Foreign currency translation adjustment | ​ | ​ | (20)
Balance as of December 31, 2023 | ​ | $ | 131,363
​ The Company performed an annual test for goodwill impairment in the fourth quarter of the year ended December 31, 2023 in accordance with Step 1 of ASC 350 and determined that goodwill was not impaired. The Company performed an annual test for goodwill impairment in the fourth quarter of the year ended December 31, 2022 in accordance with Step 0 of ASC 350 and determined that goodwill was not impaired. Intangible Assets Intangible assets, net as of December 31, 2023 consisted of the following (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31, 2023
​ | ​ | Gross | ​ | Foreign | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Carrying | ​ | Currency | ​ | Accumulated | ​ | Net
​ |  | Amount |  | Translation |  | Amortization |  | Amount
Trade names and trademarks | ​ | $ | 148,100 | ​ | $ | 72 | ​ | $ | 29,583 | ​ | $ | 118,589
Patented technology | ​ |  | 16,126 | ​ |  | 1 | ​ |  | 8,713 | ​ |  | 7,414
Technology | ​ | ​ | 13,000 | ​ | ​ | — | ​ | ​ | 1,806 | ​ | ​ | 11,194
Pool designs | ​ |  | 13,628 | ​ |  | 35 | ​ |  | 2,973 | ​ |  | 10,690
Franchise relationships | ​ |  | 1,187 | ​ |  | — | ​ |  | 1,187 | ​ |  | —
Dealer relationships | ​ |  | 197,376 | ​ |  | — | ​ |  | 62,470 | ​ |  | 134,906
Order backlog | ​ | ​ | 1,600 | ​ | ​ | — | ​ | ​ | 1,600 | ​ | ​ | —
Non-competition agreements | ​ |  | 2,476 | ​ |  | — | ​ |  | 2,476 | ​ |  | —
​ | ​ | $ | 393,493 | ​ | $ | 108 | ​ | $ | 110,808 | ​ | $ | 282,793
​ ​ Intangible assets, net as of December 31, 2022 consisted of the following (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31, 2022
​ | ​ | Gross | ​ | Foreign | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Carrying | ​ | Currency | ​ | Accumulated | ​ | Net
​ |  | Amount |  | Translation |  | Amortization |  | Amount
Trade names and trademarks | ​ | $ | 148,100 | ​ | $ | (84) | ​ | $ | 22,982 | ​ | $ | 125,034
Patented technology | ​ |  | 16,126 | ​ |  | 37 | ​ |  | 6,959 | ​ |  | 9,204
Technology | ​ | ​ | 13,000 | ​ | ​ | — | ​ | ​ | 939 | ​ | ​ | 12,061
Pool designs | ​ |  | 13,628 | ​ |  | (10) | ​ |  | 2,037 | ​ |  | 11,581
Franchise relationships | ​ |  | 1,187 | ​ |  | 45 | ​ |  | 1,064 | ​ |  | 168
Dealer relationships | ​ |  | 197,376 | ​ |  | 13 | ​ |  | 46,699 | ​ |  | 150,690
Order backlog | ​ | ​ | 1,600 | ​ | ​ | — | ​ | ​ | 1,600 | ​ | ​ | —
Non-competition agreements | ​ |  | 2,476 | ​ |  | — | ​ |  | 1,999 | ​ |  | 477
​ | ​ | $ | 393,493 | ​ | $ | 1 | ​ | $ | 84,279 | ​ | $ | 309,215
​ The Company recognized $26.5 million, $28.2 million, and $22.6 million of amortization expense related to intangible assets during the years ended December 31, 2023, 2022, and 2021, respectively. The Company estimates that amortization expense related to definite-lived intangible assets will be as follows in each of the next five years and thereafter (in thousands): ​
​ | ​ | ​ | ​
​ | ​ | Estimated Future
​ | ​ | Amortization
Year Ended |  | Expense
2024 | ​ | $ | 25,709
2025 | ​ |  | 25,551
2026 | ​ |  | 25,551
2027 | ​ |  | 25,551
2028 | ​ |  | 24,593
Thereafter | ​ |  | 155,838
​ | ​ | $ | 282,793
​

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 350 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//350/tableOfContent + Details
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