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Intangible Assets, Net

12 Months Ended

Dec. 31, 2022

Intangible Assets, Net

Intangible Assets, Net

Note 11. Intangible Assets, Net

The following table summarizes intangible assets, net as of December 31, 2022 and 2021:

​

​	​	​	​	​	​	​	​	​	​
​	​	December 31, 2022
​	​	​		​	Accumulated		​	​
(Thousands)		Cost			Amortization			Net
Customer relationships	​	$	148,648	​	$	(18,778)	​	$	129,870
Favorable lease asset	​	​	710	​	​	(140)	​	​	570
Software	​	​	919	​	​	(473)	​	​	446
Intangible assets, net	​	$	150,277	​	$	(19,391)	​	$	130,886

​

​	​	​	​	​	​	​	​	​	​
​	​	December 31, 2021
​	​	​		​	Accumulated		​	​
(Thousands)		Cost			Amortization			Net
Customer relationships	​	$	137,500	​	$	(12,091)	​	$	125,409
Favorable lease asset	​	​	220	​	​	(79)	​	​	141
Software	​	​	758	​	​	(394)	​	​	364
Intangible assets, net	​	$	138,478	​	$	(12,564)	​	$	125,914

​

Amortization expense of intangible assets was $6.8 million, $6.7 million and $5.6 million for the years ended December 31, 2022, 2021 and 2020, respectively. As of December 31, 2022, the weighted average useful life for definite-lived intangibles is approximately 20 years.

The estimated amortization expense for intangible assets subject to amortization over the next five years is:

​

​	​	​	​
(Thousands)		​	​
2023	​	$	7,588
2024	​	​	7,465
2025	​	​	7,287
2026	​	​	7,194
2027	​	​	7,194
Thereafter	​	​	94,158
Total	​	$	130,886

​

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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
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 30
-URI https://asc.fasb.org/subtopic&trid=2144471

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- References

No definition available.

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