Acquired identifiable intangible assets, and related accumulated amortization, as of December 31, 2022 and 2021 consist of:


	December 31, 2022
	Gross Carrying Value			Accumulated Amortization			Net Book Value
	(in thousands)
Customer relationships	$	8,085		$	6,750		$	1,335
Tradenames		3,066			2,147			919
Developed technology		1,884			1,495			389
Foreign currency		(1,375	)		(1,344	)		(31	)
Total Intangible Assets	$	11,660		$	9,048		$	2,612


	December 31, 2021
	Gross Carrying Value			Accumulated Amortization			Net Book Value
	(in thousands)
Customer relationships	$	8,355		$	6,315		$	2,040
Tradenames		3,066			730			2,336
Developed technology		1,884			440			1,444
Foreign currency		(896	)		(865	)		(32	)
Total Intangible Assets	$	12,409		$	6,620		$	5,788

In connection with the October 2012 acquisition of TB Europe, the acquired intangible asset related to customer relationships is being amortized over an estimated useful life of thirteen years with the amortization being included within sales and marketing expense.

In May 2019, the Company completed its acquisition of the business and assets of ROCCAT. The acquired intangible assets relating to developed technology, customer relationships, and trade name are subject to amortization. In January 2021, the Company completed its acquisition of the business and assets relating to the Neat Microphones business. The acquired intangible assets relating to developed technology, customer relationships, and trade name are subject to amortization. Refer to Note 2, “Acquisitions” for additional information related to Neat Microphones’ identifiable intangible assets.

During the fourth quarter of 2022, the Company made the decision to increasingly leverage the Turtle Beach brand across our product portfolio including PC products over time. Due to this decision, the Company prepared an impairment calculation to determine the present value of the ROCCAT tradename asset using the relief from royalty method. As a result of the present value calculation, the Company recorded an impairment charge of $0.8 million for the ROCCAT tradename intangible asset.

During the fourth quarter of 2022, as part of the 2023 annual operating and strategic plan process, the Company made the decision to transition microphone products to the Turtle Beach brand. As a result of this decision, there was no longer a basis for carrying the remaining net

intangible assets related to the Neat brand. In the fourth quarter 2022, the Company recorded an impairment charge of $1.1 million related to the remaining Neat net intangible assets.

Amortization expense related to definite lived intangible assets was $1.2 million, $1.3 million and $0.9 million for the years ended December 31, 2022, 2021 and 2020, respectively.

As of December 31, 2022, estimated annual amortization expense related to definite lived intangible assets in future periods is as follows:


	(in thousands)
2023	$	1,045
2024		1,003
2025		425
2026		170
Thereafter		-
Total	$	2,643