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Goodwill and Other Intangible Assets | 12 Months Ended
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Dec. 31, 2023
Goodwill and Other Intangible Assets |
Goodwill and Other Intangible Assets | Note 5: Goodwill and Other Intangible Assets The components of intangible assets are as follows (in 000’s):
|  | December 31, 2023 |
|  | Gross Carrying Amount |  |  | Accumulated Amortization |  |  | Net Carrying Amount |
Customer lists |  | $ | 1,770 |  |  | $ | (1,770 | ) |  | $ | — |
Customer relationships |  |  | 5,180 |  |  |  | (3,711 | ) |  |  | 1,469 |
Proprietary software |  |  | 3,799 |  |  |  | (1,616 | ) |  |  | 2,183 |
Distribution partner relationships |  |  | 153 |  |  |  | (84 | ) |  |  | 69 |
Non-compete agreement |  |  | 69 |  |  |  | (69 | ) |  |  | — |
Trademarks – definite-lived |  |  | 27,673 |  |  |  | (2,312 | ) |  |  | 25,361 |
Trademarks – indefinite-lived |  |  | 408 |  |  |  | — |  |  |  | 408 |
Total intangible assets |  | $ | 39,052 |  |  | $ | (9,562 | ) |  | $ | 29,490 |
|  | December 31, 2022 |
|  | Gross Carrying Amount |  |  | Accumulated Amortization |  |  | Net Carrying Amount |
Customer lists |  | $ | 1,770 |  |  | $ | (1,770 | ) |  | $ | — |
Customer relationships |  |  | 5,180 |  |  |  | (3,275 | ) |  |  | 1,905 |
Proprietary software |  |  | 3,799 |  |  |  | (1,173 | ) |  |  | 2,626 |
Distribution partner relationships |  |  | 153 |  |  |  | (69 | ) |  |  | 84 |
Non-compete agreement |  |  | 69 |  |  |  | (55 | ) |  |  | 14 |
Trademarks – definite-lived |  |  | 27,673 |  |  |  | (479 | ) |  |  | 27,194 |
Trademarks – indefinite-lived |  |  | 408 |  |  |  | — |  |  |  | 408 |
Total intangible assets |  | $ | 39,052 |  |  | $ | (6,821 | ) |  | $ | 32,231 |
The Company performed its annual assessment for impairment of intangible assets and determined there was no impairment as of and for the years ended December 31, 2023 and 2022. The amortization of intangible assets is a charge to operating expenses and totaled $2,741,000 and $816,000 in the years ended 2023 and 2022, respectively. The future amortization of the identifiable intangible assets is as follows (in 000’s):
Years Ending December 31: |  |  |
2024 |  | $ | 2,727 |
2025 |  |  | 2,628 |
2026 |  |  | 2,600 |
2027 |  |  | 2,431 |
2028 |  |  | 2,201 |
Thereafter |  |  | 16,495 |
Total |  | $ | 29,082 |
The balance of goodwill was $6,376,000 as of December 31, 2021. During the year ending December 31, 2022, we acquired Newswire, which added $16,122,000 of goodwill based on our preliminary purchase price allocation. During the year ending December 31, 2023, we concluded our purchase price allocation, which resulted in a reduction in goodwill of $571,000. Along with Newswire, the goodwill balance of $21,927,000 is related to the stock acquisitions of Basset Press in July 2007, PIR in 2013, ACCESSWIRE in 2014, Interwest in 2017 and Filing Services Canada, Inc. in 2018 and the assets of the Visual Webcasting Platform in 2019. The Company conducted its annual impairment analyses as of October 1, of 2023 and 2022 and determined that no goodwill was impaired.

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