Intangibles

9 Months Ended

Sep. 30, 2023

Intangibles

Intangibles

(3) Intangibles

All customer relationships are subject to amortization and are amortized over a weighted average period of 18 years, which reflects the remaining economic life of the relationships as of September 30, 2023. The changes in the carrying amount of customer relationships were as follows (in thousands):

Customer relationships as of December 31, 2022	$	1,286,103
Amortization of customer relationships		(53,004)
Customer relationships as of September 30, 2023	$	1,233,099

Future amortization expense is as follows (in thousands):

Remainder of year ending December 31, 2023	$	17,668
Year ending December 31, 2024		70,672
Year ending December 31, 2025		70,672
Year ending December 31, 2026		70,672
Year ending December 31, 2027		70,672
Thereafter		932,743
Total	$	1,233,099