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INTANGIBLE ASSETS | 12 Months Ended
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Dec. 31, 2023
INTANGIBLE ASSETS |
INTANGIBLE ASSETS | 5. INTANGIBLE ASSETS Intangible assets on the Company’s consolidated balance sheets consist of the following (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Weighted Average | ​ | December 31, 2023 | ​ | December 31, 2022
​ |  | Amortization |  | Gross |  | Accumulated |  | Net Book |  | Gross |  | Accumulated |  | Net Book
​ | ​ | Period | ​ | Amount | ​ | Amortization | ​ | Value | ​ | Amount | ​ | Amortization | ​ | Value
Customer lists |  | 14.3 years | ​ | $ | 116,831 | ​ | $ | (42,421) | ​ | $ | 74,410 | ​ | $ | 112,378 | ​ | $ | (34,377) | ​ | $ | 78,001
Trade name |  | 13.9 years | ​ |  | 15,572 | ​ |  | (7,916) | ​ |  | 7,656 | ​ |  | 15,320 | ​ |  | (6,900) | ​ |  | 8,420
Design and technologies |  | 10.6 years | ​ |  | 41,480 | ​ |  | (12,173) | ​ |  | 29,307 | ​ |  | 41,212 | ​ |  | (8,558) | ​ |  | 32,654
Total | ​ | ​ | ​ | $ | 173,883 | ​ | $ | (62,510) | ​ | $ | 111,373 | ​ | $ | 168,910 | ​ | $ | (49,835) | ​ | $ | 119,075
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ Intangible assets resulting from the 2023 acquisition of Sierramotion was $4,100 and from the 2022 acquisitions of FPH, ThinGap, and Airex were $28,611 (Note 2). The intangible assets acquired consist of customer lists, technology, and trade names. Total amortization expense for intangible assets for the years 2023, 2022 and 2021 was $12,313, $11,169 and $6,245, respectively. Estimated amortization expense for intangible assets is as follows (in thousands): ​
​ | ​ | ​ | ​
Year ending December 31, |  | Total
​ | ​ | Estimated
​ |  | Amortization Expense
2024 | ​ | $ | 12,216
2025 | ​ | ​ | 12,200
2026 | ​ |  | 12,103
2027 | ​ | ​ | 11,659
2028 | ​ | ​ | 10,929
Thereafter | ​ |  | 52,266
Total estimated amortization expense | ​ | $ | 111,373
​ | ​ | ​ | ​
​

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- Definition The entire disclosure for all or part of the information related to intangible assets. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//350-30/tableOfContent + Details
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