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GOODWILL AND OTHER INTANGIBLES
12 Months Ended
Dec. 31, 2022
GOODWILL AND OTHER INTANGIBLES  
GOODWILL AND OTHER INTANGIBLES

(5)   GOODWILL AND OTHER INTANGIBLES

During the year ended December 31, 2021 the Company completed the acquisition of Kestrel, which resulted in goodwill of $20.4 million (see Note 3).

As of December 31, 2022, there was no impairment indicators of the Company’s net asset value.

The following table provides the summary of the Company’s intangible assets as of December 31, 2022.

Weighted-

 

Average

 

Gross

 

Remaining

 

Carrying

 

Accumulated

 

Net Carrying

 

Life (in

    

Amount

    

Amortization

    

Amount

    

years)

Acquired patents

$

10,000

$

(933)

$

9,067

 

10.0

The following table summarizes the estimated future amortization expense to be recognized over the next years and periods thereafter:

    

December 31,

 

(In thousands)

2023

$

908

2024

 

911

2025

 

908

2026

 

908

2027

 

908

Thereafter

 

4,524

Total future amortization expense

$

9,067