Other Intangible Assets

12 Months Ended

Dec. 31, 2024

6.	Other Intangible Assets

Other intangible assets consist of the following (U.S. dollars in thousands):

	Carrying Amount at December 31,
	2024		2023
Indefinite life intangible assets:
Trademarks and trade names	$	24,599	$	24,599

	December 31, 2024				December 31, 2023
Finite life intangible assets:	Gross Carrying Amount		Accumulated Amortization		Gross Carrying Amount		Accumulated Amortization		Weighted- average Amortization Period
Scanner technology	$	40,716	$	40,716	$	40,716	$	40,716	18 years
Developed technology		36,526		28,254		36,526		26,557	16 years
Sales force network		11,598		11,598		11,598		11,598	15 years
Trademarks		26,386		5,789		27,111		4,913	17 years
Customer relationships		40,718		28,141		50,821		22,450	8 years
Other		19,777		11,544		19,801		9,678	12 years
	$	175,721	$	126,042	$	186,573	$	115,912	14 years

Amortization of finite-life intangible assets totaled $12.3 million, $11.9 million and $9.7 million for the years ended December 31, 2024, 2023 and 2022, respectively.

The estimated annual amortization expense for each of the five succeeding fiscal years are as follows (U.S. dollars in thousands):

Year Ending December 31,
2025	$	9,106
2026		8,388
2027		5,960
2028		5,967
2029		3,384

Indefinite life intangible assets are not amortized, rather they are subject to annual impairment tests. Finite life intangibles are amortized over their useful lives. The Company reviews long-lived assets for impairment when performance expectations, events or change in circumstances indicate that the assets’ carrying value may not be recoverable. The evaluation is performed at the lowest level of identifiable cash flows by comparing the carrying value of the asset group to the net undiscounted cash flows. If the evaluation indicates that the carrying amount of the assets may not be recoverable, any potential impairment is measured based upon the fair value of the related asset group.

During the second quarter of 2024, based on continued losses and change in forecasted losses associated with the BeautyBio retail asset group within the Rhyz Other segment, the Company concluded that these factors were an interim triggering event. As a result, the Company performed an interim impairment test of the asset group and assessed the recoverability of the related asset group by comparing the carrying value of the retail asset group to the net undiscounted cash flow expected to be generated. The recoverability test indicated that the retail asset group was impaired. The Company concluded the retail asset group’s carrying value exceeded its estimated fair value, which was determined utilizing the discounted projected future cash flows, which resulted in an impairment charge. The estimated fair value was based on expected future cash flows using level 3 inputs and utilized management estimates related to revenue growth rates, profitability margins and discount rates. The Company recorded an impairment charge of $10.1 million for its Rhyz Other segment during the three months ended June 30, 2024 within restructuring and impairment expenses on the consolidated statement of income. The retail asset group has a remaining carrying value of $2.3 million with a remaining amortization period of approximately 9 years.

During 2022, the Company recorded a $1.7 million impairment charge for other intangibles associated with our 2022 restructuring plan.