| Intangible Assets |
6. Intangible Assets Amortization of definite-lived intangible assets for the years ended December 31, 2023, 2022, and 2021, was $10.1 million, $10.1 million and $10.0 million, respectively. The following is a schedule by year of projected amortization expense for definite-lived intangible assets (in thousands): | | | 2024 | $ | 10,049 | 2025 | | 10,035 | 2026 | | 9,688 | 2027 | | 458 | 2028 | | 308 | Thereafter | | 1,768 |
The balance in identifiable intangible assets comprises the following (in thousands): | | | | | | | | | | | | | Gross | | | Accumulated | | | Net Book | | | | Asset | | | Amortization | | | Value | December 31, 2023 | | | | | | | | | | Referral networks | | $ | 1,228 | | $ | (413) | | $ | 815 | Covenants not to compete | | | 2,476 | | | (2,354) | | | 122 | Customer lists | | | 4,746 | | | (2,220) | | | 2,526 | Reacquired franchise rights | | | 72,821 | | | (43,978) | | | 28,843 | Subtotal - definite-lived intangibles | | | 81,271 | | | (48,965) | | | 32,306 | VITAS trade name | | | 51,300 | | | - | | | 51,300 | Roto-Rooter trade name | | | 150 | | | - | | | 150 | Operating licenses | | | 6,508 | | | - | | | 6,508 | Total | | $ | 139,229 | | $ | (48,965) | | $ | 90,264 | | | | | | | | | | | December 31, 2022 | | | | | | | | | | Referral networks | | $ | 22,368 | | $ | (21,458) | | $ | 910 | Covenants not to compete | | | 10,141 | | | (9,928) | | | 213 | Customer lists | | | 4,746 | | | (2,005) | | | 2,741 | Reacquired franchise rights | | | 72,609 | | | (34,325) | | | 38,284 | Subtotal - definite-lived intangibles | | | 109,864 | | | (67,716) | | | 42,148 | VITAS trade name | | | 51,300 | | | - | | | 51,300 | Roto-Rooter trade name | | | 150 | | | - | | | 150 | Operating licenses | | | 6,128 | | | - | | | 6,128 | Total | | $ | 167,442 | | $ | (67,716) | | $ | 99,726 |
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