OTHER INTANGIBLES, NET

9 Months Ended

Sep. 30, 2023

OTHER INTANGIBLES, NET

OTHER INTANGIBLES, NET

12. OTHER INTANGIBLES, NET

Intangible assets are amortized over their legal or estimated useful life. The following table provides a summary of the gross carrying value and accumulated amortization by each major intangible class as of September 30, 2023, and December 31,2022:

		2023				2022
(in thousands)		Gross Carrying Amount		Accumulated Amortization		Gross Carrying Amount		Accumulated Amortization
Finite-lived Intangibles:
Customer Relationships	$	10,000	$	(250)	$	—	$	—
Trade Names and Trademarks		3,200		(80)		—		—
Software licenses		2,202		(1,723)		2,202		(1,143)
Patents and Technology		300		(295)		300		(275)
	$	15,702	$	(2,348)	$	2,502	$	(1,418)

During the third quarter of 2023, the Company acquired intangible assets; see Note 3 for additional details related to the intangible assets acquired. Amortization expense for each of the periods presented was as follows:

	Three months ended				Nine months ended
	September 30,				September 30,
(in thousands)		2023		2022		2023		2022
Amortization of finite-lived intangible assets	$	530	$	200	$	931	$	601

Estimated amortization expenses based on balances as of September 30, 2023 were as follows: $528 thousand for the remainder of 2023; $1.7 million for 2024; $1.3 million for the years 2025 to 2028.