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Goodwill, Intangible Assets and Deferred Charges | 6 Months Ended
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Jun. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill, Intangible Assets and Deferred Charges | Goodwill, Intangible Assets and Deferred Charges Goodwill The Company's goodwill balance of $12.6 million as of June 30, 2022 and year ended December 31, 2021 was attributable to the Specialty Chemicals Segment. Intangible Assets Intangible assets represent the fair value of intellectual, non-physical assets resulting from business acquisitions and are amortized over their estimated useful life using either an accelerated or straight-line method over a period of eight to 15 years. The balance of intangible assets subject to amortization are as follows:
(in thousands) | June 30, 2022 |  | December 31, 2021
Intangible assets, gross | $ | 28,876 |  |  | $ | 28,876 |
Accumulated amortization of intangible assets | (15,936) |  |  | (14,494) |
Intangible assets, net | $ | 12,940 |  |  | $ | 14,382 |
Estimated amortization expense related to intangible assets for the next five years are as follows:
(in thousands) |  |  |  |
Remainder of 2022 | $ | 1,442 |  |  |  |
2023 | 1,433 |  |  |  |
2024 | 1,336 |  |  |  |
2025 | 1,238 |  |  |  |
2026 | 1,141 |  |  |  |
2027 | 1,044 |  |  |  |
Thereafter | 5,306 |  |  |  |
Deferred Charges Deferred charges represent debt issuance costs and are amortized over their estimated useful lives using the straight-line method over a period of four years. The balance of deferred charges subject to amortization are as follows:
(in thousands) | June 30, 2022 |  | December 31, 2021
Deferred charges, gross | $ | 398 |  |  | $ | 398 |
Accumulated amortization of deferred charges | (145) |  |  | (96) |
Deferred charges, net | $ | 253 |  |  | $ | 302 |

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -URI https://asc.fasb.org/topic&trid=2144416 + Details
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