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GOODWILL AND INTANGIBLE ASSETS
 6 Months Ended
Jun. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
GOODWILL AND INTANGIBLE ASSETS GOODWILL AND INTANGIBLE ASSETS
Goodwill

Changes in the carrying amount of goodwill for the six months ended June 30, 2024 were as follows:
Total
Goodwill at January 1, 2024$83,699 
Boston O&P acquisition9,217 
Foreign currency translation impact(2,404)
Goodwill at June 30, 2024
$90,512 
Intangible Assets

As of June 30, 2024, the balances of amortizable intangible assets were as follows:
Weighted-Average Amortization PeriodGross Intangible AssetsAccumulated AmortizationNet Intangible Assets
Patents10.7 years$44,328 $(12,215)$32,113 
Intellectual Property & Capitalized Software8.6 years16,027 (3,296)12,731 
Customer Relationships & Other11.9 years22,294 (4,070)18,224 
License Agreements3.4 years10,733 (5,953)4,780 
Total amortizable assets$93,382 $(25,534)$67,848 

As of December 31, 2023, the balances of amortizable intangible assets were as follows:
Weighted-Average Amortization PeriodGross Intangible AssetsAccumulated AmortizationNet Intangible Assets
Patents11.2 years$45,646 $(11,008)$34,638 
Intellectual Property & Capitalized Software9.1 years16,026 (2,524)13,502 
Customer Relationships & Other12.4 years18,862 (3,270)15,592 
License Agreements3.8 years10,733 (5,190)5,543 
Total amortizable assets$91,267 $(21,992)$69,275 

Licenses are tied to product launches and do not begin amortizing until the product is launched to the market.

Trademarks are non-amortizing intangible assets which were $18,669 and $15,287 as of June 30, 2024 and December 31, 2023, respectively. Trademarks are recorded in Other intangible assets on the condensed consolidated balance sheets. The change in balance during the six months ended June 30, 2024 was driven by foreign currency translation adjustments and the Boston O&P acquisition.
During 2023, management determined that a triggering event occurred, indicating that it was more likely than not the fair value of the ApiFix trademark asset was less than the carrying value. As such, the Company completed a quantitative analysis whereby we determined the fair value of the ApiFix trademark asset was below the carrying value. We recorded an impairment charge of $985 for the year ended December 31, 2023 to reduce the carrying amount of the intangible asset to its estimated fair value.