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Intangible Assets | 6 Months Ended
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Jun. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract] |
Intangible Assets | Intangible Assets The Company accounts for intangible assets in accordance with Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 350, Goodwill and Other Intangible Assets, which requires that intangibles with indefinite useful lives be tested annually for impairment, or when management deems there is a triggering event, and those with finite useful lives be amortized over their useful lives. Details of the Company’s intangible assets are as follows:
| June 30, 2024 |  | December 31, 2023
(In thousands) | Gross Carrying Amount |  | Accumulated Amortization |  | Gross Carrying Amount |  | Accumulated Amortization
Assets eligible for amortization: |  |  |  |  |  |  |
Customer lists | $ | 6,470 |  |  | $ | (4,979) |  |  | $ | 6,470 |  |  | $ | (4,851) |
Patents | 72 |  |  | (38) |  |  | 72 |  |  | (36) |
Software | 3,212 |  |  | (2,146) |  |  | 3,212 |  |  | (1,933) |
Trade name | 373 |  |  | (84) |  |  | 373 |  |  | (70) |
Other | 500 |  |  | (408) |  |  | 500 |  |  | (392) |
Unamortized intangible assets: |  |  |  |  |  |  |
Goodwill | 17,309 |  |  | — |  |  | 17,309 |  |  | — |
Total intangible assets | $ | 27,936 |  |  | $ | (7,655) |  |  | $ | 27,936 |  |  | $ | (7,282) |
The customer lists are amortized over 7 to 10 years; the patents over 18 years; software over 3 to 7 years; the trade names over 10 to 20 years; and other intangible assets over 15 years. Amortization of intangible assets amounted to $182,000 and $373,000 for the three and six-month periods ended June 30, 2024, respectively. Amortization of intangible assets amounted to $195,000 and $390,000 for the three and six-month periods ended June 30, 2023, respectively. Estimated annual amortization of intangibles is $738,000 in 2024, $730,000 in 2025, $582,000 in 2026, $262,000 in 2027, and $254,000 in 2028.

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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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