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Goodwill and Other Intangible Assets | 3 Months Ended
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Mar. 31, 2024
Goodwill and Other Intangible Assets |
Goodwill and Other Intangible Assets | 8. Goodwill and Other Intangible Assets. The following table summarizes the changes in goodwill:
Balance as of January 1, 2024 |  | $ | - |
Goodwill resulting from the Bloomia Acquisition |  |  | 10,122,000 |
Balance as of March 31, 2024 |  | $ | 10,122,000 |
Other intangible assets and related amortization are as follows at March 31, 2024:
|  | Cross Carrying Amount |  |  | Useful Life (Years) |  |  | Accumulated Amortization |  |  | Net Carrying Amount |
Tradename |  | $ | 8,570,000 |  |  | Indefinite |  |  | $ | - |  |  | $ | 8,570,000 |
Customer relationships |  |  | 18,300,000 |  |  |  | 12 |  |  |  | 158,000 |  |  |  | 18,142,000 |
|  | $ | 26,870,000 |  |  |  |  |  |  | $ | 158,000 |  |  | $ | 26,712,000 |
For the three months ended March 31, 2024 amortization of intangible assets expensed to operations was $158,000. The weighted average remaining amortization period for intangible assets as of March 31, 2024 approximately 11.9 years. Remaining estimated aggregate annual amortization expense is as follows:
Remainder of 2024 |  | $ | 1,144,000 |
2025 |  |  | 1,525,000 |
2026 |  |  | 1,525,000 |
2027 |  |  | 1,525,000 |
2028 |  |  | 1,525,000 |
Thereafter |  |  | 10,898,000 |
Total |  | $ | 18,142,000 |

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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 + Details
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