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Note E - Intangible Assets
9 Months Ended
Sep. 30, 2023
Notes to Financial Statements  
Intangible Assets Disclosure [Text Block]

Note E - Intangible Assets

 

A schedule of the Company’s intangible assets and related accumulated amortization as of September 30, 2023 and December 31, 2022 is as follows (dollars in thousands):
 
  

As of September 30, 2023

  

As of December 31, 2022

 
  

Gross carrying amount

  

Accumulated amortization

  

Gross carrying amount

  

Accumulated amortization

 

In-place lease value

 $2,444  $1,767  $2,564  $1,621 

Lease commissions

  182   128   165   106 

Indefinite lived contract

  3,160   -   3,160    

Acquired technology

  4,242   897   4,217   561 

Total intangible assets

 $10,028  $2,792  $10,106  $2,288 

 

Amortization of the in-place lease value, lease commissions and acquired technology are included in depreciation and amortization in the accompanying Consolidated Statements of Operations. Amortization expense associated with intangible assets totaled approximately $0.2 million for both the three months ended September 30, 2023 and 2022 and approximately $0.6 million for both the nine months ended September 30, 2023 and 2022.

 

A schedule of future amortization of acquired intangible assets for the nine months ended September 30, 2023 and thereafter is as follows (dollars in thousands):

 

  

In-place lease value

  

Lease commissions

  

Acquired technology

 

2023 (Remainder)

 $78  $6  $113 

2024

  291   24   448 

2025

  179   12   448 

2026

  101   7   448 

2027

  28   4   420 

Thereafter

  -   -   1,468 
  $677  $53  $3,345