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Goodwill and Other Intangible Assets
 3 Months Ended
Mar. 31, 2023
Goodwill and Other Intangible Assets [Abstract]  
Goodwill and Other Intangible Assets

Note 9—Goodwill and Other Intangible Assets

 

The table below reconciles the change in the carrying amount of goodwill for the period from January 1, 2023 to March 31, 2023: 

 

 

GRE

 Genie Renewables

Total


(in thousands)

Balance at January 1, 2023

 

$ 

9,998

$ —

$

9,998
Additions/deductions during the period

—


—


—

Balance at March 31, 2023              

 

$

9,998

$ —

$

9,998

 

The table below presents information on the Company’s other intangible assets:   

 

Weighted Average Amortization Period

 

 

Gross Carrying Amount

 

 

Accumulated Amortization

 

 

Net
Balance

 



(in thousands)

March 31, 2023

 

 

 

 

 

 

 

 

 

 

 

 

Patents and trademarks

 

 

18.1  years

 

 

$

3,510

 

 

$

(1,212

 )

 

$

2,298

 

Customer relationships

 

 

9.0  years

 

 

 

1,100

 

 

 

(682

 )

 

 

418

 

Licenses  

 

10.0  years

 

 

 

479

 

 

 

(162

 )

 

 

317

 

Total

 

 

 

 

$

5,089

 

 

$

(2,056

 )

 

$

3,033

 

December 31, 2022

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Patent and trademark

 

 

18.1 years

 

 

$

3,510

 

 

$

(1,154

 )

 

$

2,356

 

Customer relationships

 

 

9.0 years

 

 

 

1,100

 

 

 

(652

 )

 

 

448

 

Licenses

 

 

10.0 years

  

 

 

479

 

 

 

(150

 )

 

 

329

 

Total

 

 

 

 

$

5,089

 

 

$

(1,956

 )

 

$

3,133

 

 

Amortization expense of intangible assets was $0.1 million for each of the three months ended March 31, 2023 and 2022. The Company estimates that amortization expense of intangible assets will be $0.3 million, $0.4 million, $0.4 million, $0.3 million, $0.3 million and $1.4 million for the remainder of 2023, and for 2024, 2025, 2026, 2027 and thereafter, respectively.