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GOODWILL AND OTHER INTANGIBLES

12 Months Ended

Dec. 31, 2023

GOODWILL AND OTHER INTANGIBLE ASSETS

GOODWILL AND OTHER INTANGIBLE ASSETS

(5)   GOODWILL AND OTHER INTANGIBLES

On December 22, 2021, the Company completed the acquisition of Kestrel, which resulted in goodwill of $20.4 million (see Note 3).

As of December 31, 2023, there were 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, 2023.

​

​	​	​	​	​	​	​	​	​	​	​	​
​	​	​	​	​	​	​	​	​	​	​	Weighted-
​	​	​	​	​	​	​	​	​	​		Average
​		Gross		​	​	​	​	​	​		Remaining
​		Carrying			Accumulated			Net Carrying			Life (in
​		Amount			Amortization			Amount			years)
Acquired patents at December 31, 2022	​	$	10,000	​	$	(933)	​	$	9,067	​	10.00
Amortization expense	​	​	​	​	​	(909)	​	​	(909)	​	​
Acquired patents at December 31, 2023	​	$	10,000	​	$	(1,842)	​	$	8,158		9.00

​

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

​

​	​	​	​
​		December 31,
​		(In thousands)
2024	​	​	911
2025	​		908
2026	​		908
2027	​		908
2028	​		911
Thereafter	​		3,612
Total future amortization expense	​	$	8,158

​

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- References

No definition available.

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- Definition

The entire disclosure for goodwill and intangible assets.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 350
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//350/tableOfContent

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