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GOODWILL AND INTANGIBLES, NET
9 Months Ended
Sep. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
GOODWILL AND INTANGIBLES, NET
NOTE 2 – GOODWILL AND INTANGIBLES, NET
The annual review of goodwill impairment will be performed in October 2024. There were no triggering events during the three and nine months ended September 30, 2024 and 2023.
The Company had goodwill of $81.7 million at September 30, 2024 and December 31, 2023.
Intangible assets consisted of the following at September 30, 2024 and December 31, 2023 (in 000’s):
September 30,
2024
December 31,
2023
Useful Life
Technology and know-how$53,600 $53,600 15 years
Trademarks and tradenames17,700 17,700 15 years
71,300 71,300 
Accumulated amortization of technology and know-how(21,439)(18,759)
Accumulated amortization of tradenames and trademarks(7,080)(6,195)
Total intangible assets$42,781 $46,346 
Amortization of intangible assets will be $4.8 million per year for each of the next five fiscal years.
Aggregate amortization expense on intangible assets was approximately $1.2 million for both of the three months ended September 30, 2024 and 2023 and $3.6 million for both of the nine months ended September 30, 2024 and 2023.