OTHER INTANGIBLE ASSETS

12 Months Ended

Dec. 31, 2023

OTHER INTANGIBLE ASSETS [Abstract]

Intangible Assets Disclosure [Text Block]

(7)OTHER INTANGIBLE ASSETS

Other intangible assets which are included in Other long-term assets in the accompanying Consolidated Balance Sheets consisted of the following (in thousands):

							Acquisitions		Effect of
	December 31,						and		Foreign		December 31,
	2022		Amortization		Impairments		Adjustments		Currency		2023
Customer relationships, gross	$	355,717	$	—	$	—	$	—	$	(967)	$	354,750
Customer relationships - accumulated amortization		(123,882)		(33,768)		—		—		426		(157,224)
Other intangible assets, gross		19,712		—		—		—		659		20,371
Other intangible assets - accumulated amortization		(17,638)		(1,810)		—		—		(16)		(19,464)
Other intangible assets, net	$	233,909	$	(35,578)	$	—	$	—	$	102	$	198,433

							Acquisitions		Effect of
	December 31,						and		Foreign		December 31,
	2021		Amortization		Impairments		Adjustments		Currency		2022
Customer relationships, gross	$	299,948	$	—	$	—	$	61,310	$	(5,541)	$	355,717
Customer relationships - accumulated amortization		(93,582)		(33,244)		—		—		2,944		(123,882)
Other intangible assets, gross		19,731		—		—		—		(19)		19,712
Other intangible assets - accumulated amortization		(13,748)		(3,899)		—		—		9		(17,638)
Other intangible assets, net	$	212,349	$	(37,143)	$	—	$	61,310	$	(2,607)	$	233,909

The acquisition recorded during 2022 relates to the purchase of Faneuil (see Note 2 for further information).

Customer relationships are being amortized over the remaining weighted average useful life of 6.1 years and other intangible assets are being amortized over the remaining weighted average useful life of 1.6 years. Amortization expense related to intangible assets was $35.6 million, $37.1 million and $32.0 million for the years ended December 31, 2023, 2022 and 2021, respectively.

Expected future amortization of other intangible assets as of December 31, 2023 is as follows (in thousands):

2024	$	33,042
2025		31,092
2026		31,033
2027		31,033
2028		30,261
Thereafter		41,972
Total	$	198,433