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Goodwill and Intangible Assets | 9 Months Ended
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Sep. 30, 2023
Goodwill and Intangible Assets |
Goodwill and Intangible Assets | Note 10. Goodwill and Intangible Assets Goodwill The following table represents the changes in the carrying value of goodwill as of September 30, 2023 and December 31, 2022 (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | September 30, | ​ | December 31,
​ |  | 2023 |  | 2022
Balance at beginning of year | ​ | $ | 151,117 | ​ | $ | 146,954
Foreign currency adjustment | ​ | ​ | (2,170) | ​ | ​ | (5,391)
Goodwill related to CTSA and F-airGate acquisitions | ​ |  | — | ​ |  | 6
Goodwill related to Cell&Co acquisition | ​ | ​ | — | ​ | ​ | 2,785
Goodwill related to Polar Expres acquisition | ​ | ​ | 7 | ​ | ​ | 1,828
Goodwill related to Cell Matters acquisition | ​ | ​ | — | ​ | ​ | 4,935
Total | ​ | $ | 148,954 | ​ | $ | 151,117
​ Intangible Assets The following table presents our intangible assets as of September 30, 2023 (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Weighted
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Net | ​ | Average
​ | ​ | Gross | ​ | Accumulated | ​ | Carrying | ​ | Amortization
​ |  | Amount |  | Amortization |  | Amount |  | Period (years)
Non-compete agreement | ​ | $ | 390 | ​ | $ | 338 | ​ | $ | 52 |  | 1
Technology | ​ | ​ | 49,620 | ​ | ​ | 10,219 | ​ | ​ | 39,401 | ​ | 9
Customer relationships | ​ | ​ | 131,326 | ​ | ​ | 27,902 | ​ | ​ | 103,424 | ​ | 11
Trade name/trademark | ​ | ​ | 818 | ​ | ​ | 200 | ​ | ​ | 618 | ​ | 12
Agent network | ​ | ​ | 10,871 | ​ | ​ | 7,500 | ​ | ​ | 3,371 | ​ | 1
Order backlog | ​ | ​ | 2,600 | ​ | ​ | 2,600 | ​ | ​ | — | ​ | —
Land use rights | ​ | ​ | 2,255 | ​ | ​ | 293 | ​ | ​ | 1,962 | ​ | 35
Patents and trademarks | ​ | ​ | 44,392 | ​ | ​ | 258 | ​ | ​ | 44,134 | ​ | —
Total | ​ | $ | 242,272 | ​ | $ | 49,310 | ​ | $ | 192,962 | ​ | ​
​ The following table presents our intangible assets as of December 31, 2022 (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Weighted
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Net | ​ | Average
​ | ​ | Gross | ​ | Accumulated | ​ | Carrying | ​ | Amortization
​ |  | Amount |  | Amortization |  | Amount |  | Period (years)
Non-compete agreement | ​ | $ | 390 | ​ | $ | 280 | ​ | $ | 110 |  | 1
Technology | ​ | ​ | 36,592 | ​ | ​ | 8,056 | ​ | ​ | 28,536 | ​ | 9
Customer relationships | ​ | ​ | 131,716 | ​ | ​ | 21,254 | ​ | ​ | 110,462 | ​ | 12
Trade name/trademark | ​ | ​ | 820 | ​ | ​ | 158 | ​ | ​ | 662 | ​ | 13
Agent network | ​ | ​ | 11,667 | ​ | ​ | 6,199 | ​ | ​ | 5,468 | ​ | 2
Order backlog | ​ | ​ | 2,600 | ​ | ​ | 2,600 | ​ | ​ | — | ​ | —
Land use rights | ​ | ​ | 2,378 | ​ | ​ | 257 | ​ | ​ | 2,121 | ​ | 35
Patents and trademarks | ​ | ​ | 45,181 | ​ | ​ | 1,531 | ​ | ​ | 43,650 |  | —
Total | ​ | $ | 231,344 | ​ | $ | 40,335 | ​ | $ | 191,009 | ​ | ​
​ Amortization expense for intangible assets for the three and nine months ended September 30, 2023, was $4.0 million and $11.7 million, respectively. Amortization expense for intangible assets for the three and nine months ended September 30, 2022 was $3.4 million and $11.2 million, respectively. Expected future amortization of intangible assets as of September 30, 2023 is as follows: ​
​ | ​ | ​ | ​
Years Ending December 31, |  | Amount
Remainder of 2023 (excluding the nine months ended September 30, 2023) | ​ | $ | 3,914
2024 | ​ |  | 15,069
2025 | ​ |  | 13,171
2026 | ​ |  | 12,927
2027 | ​ |  | 12,797
Thereafter | ​ |  | 83,216
​ | ​ | $ | 141,094
​

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