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Acquired Intangible Assets

3 Months Ended

Mar. 31, 2024

Acquired Intangible Assets [Abstract]

Note 7. Acquired Intangible Assets

Acquired identifiable intangible assets consist of the following:

	March 31, 2024			December 31, 2023
	(In thousands)
Customer relationships	$	159,843		$	159,641
Patents, developed technology and intellectual property		14,123			14,123
Trademarks and trade names		8,880			8,880
Non-compete agreements		3,308			3,295
Supply agreements		800			800
Leaseholds		160			160
Total acquired intangible assets		187,114			186,899
Less: Accumulated amortization (a)		(98,163	)		(95,681	)
Net acquired intangible assets	$	88,951		$	91,218

(a)

Applies to all intangible assets, except for trademarks and trade names totaling $2.6 million, which has an indefinite useful life and, as such, is not being amortized.

Total amortization expense for acquired intangible assets was $2.1 million and $2.2 million for the three months ended March 31, 2024 and 2023, respectively. Based on the current estimated useful lives assigned to our intangible assets, amortization expense is estimated to be $6.4 million for the remainder of 2024, $8.5 million in 2025, $8.5 million in 2026, $8.5 million in 2027 and $54.5 million in the aggregate for the years 2028 through 2041.