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Note F - Intangible Assets
3 Months Ended
Mar. 31, 2024
Notes to Financial Statements  
Intangible Assets Disclosure [Text Block]

Note F - Intangible Assets

 

A schedule of our intangible assets and related accumulated amortization as of March 31, 2024 and December 31, 2023 is as follows (dollars in thousands):
 
  

As of March 31, 2024

  

As of December 31, 2023

 
  

Gross carrying amount

  

Accumulated amortization

  

Gross carrying amount

  

Accumulated amortization

 

In-place lease value

 $2,429  $1,909  $2,443  $1,845 

Lease commissions

  182   141   182   136 

Indefinite lived contract

  3,160   -   3,160    

Acquired technology

  4,402   1,129   4,402   1,009 

Total intangible assets

 $10,173  $3,179  $10,187  $2,990 

 

Amortization of the in-place lease value, lease commissions and acquired technology are included in Depreciation and Amortization in our Consolidated Statements of Operations. Amortization expense associated with intangible assets totaled approximately $0.2 million for both the three months ended March 31, 2024 and 2023.

 

Estimated future amortization of intangible assets as of March 31, 2024 for each of the next five years is as follows (dollars in thousands):

 

  

In-place lease value

  

Lease commissions

  

Acquired technology

 

2024 (Remainder)

 $218  $17  $362 

2025

  182   13   480 

2026

  106   7   480 

2027

  14   4   451 

2028

  -   -   433 

Thereafter

  -   -   1,067 
  $520  $41  $3,273