Acquired Intangible Assets

6 Months Ended

Jun. 30, 2024

Acquired Intangible Assets [Abstract]

Note 7. Acquired Intangible Assets

Acquired identifiable intangible assets consist of the following:

	June 30, 2024			December 31, 2023
	(In thousands)
Customer relationships	$	159,824		$	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		187,095			186,899
Less: Accumulated amortization (a)		(100,379	)		(95,681	)
Net acquired intangible assets	$	86,716		$	91,218

(a)

Applies to all intangible assets, except for trademarks and trade names totaling $2.6 million, which have indefinite useful lives and, as such, are not being amortized.

Total amortization expense for acquired intangible assets was $2.1 million and $4.3 million for the three and six months ended June 30, 2024, respectively, and $2.1 million and $4.3 million for the comparable periods in 2023. Based on the current estimated useful lives assigned to our intangible assets, amortization expense is estimated to be $4.1 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.