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Intangible Assets, Net

6 Months Ended

Jun. 30, 2024

Intangible Assets, Net

Intangible Assets, Net

Note 9. Intangible Assets, Net

The following table summarizes intangible assets, net as of June 30, 2024 and December 31, 2023:

​

​	​	​	​	​	​	​	​	​	​
​	​	June 30, 2024
​	​	​		​	Accumulated		​	​
(Thousands)		Cost			Amortization			Net
Customer relationships	​	$	148,648	​	$	(30,342)	​	$	118,306
Favorable lease asset	​	​	790	​	​	(548)	​	​	242
Software	​	​	1,179	​	​	(774)	​	​	405
Intangible assets, net	​	$	150,617	​	$	(31,664)	​	$	118,953

​

​	​	​	​	​	​	​	​	​	​
​	​	December 31, 2023
​	​	​		​	Accumulated		​	​
(Thousands)		Cost			Amortization			Net
Customer relationships	​	$	148,648	​	$	(26,487)	​	$	122,161
Favorable lease asset	​	​	790	​	​	(413)	​	​	377
Software	​	​	1,079	​	​	(672)	​	​	407
Intangible assets, net	​	$	150,517	​	$	(27,572)	​	$	122,945

​

Amortization expense of intangible assets was $2.1 million and $4.1 million for the three and six months ended June 30, 2024, respectively, and amortization expense of intangible assets was $2.0 million and $4.0 million for the three and six months ended June 30, 2023, respectively. As of June 30, 2024, the weighted average useful life for definite-lived intangibles is approximately 20 years.

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Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-Topic 985
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