INTANGIBLE ASSETS, NET

12 Months Ended

Dec. 31, 2023

Indefinite-Lived Intangible Assets (Excluding Goodwill) [Abstract]

INTANGIBLE ASSETS, NET

INTANGIBLE ASSETS, NET

Components of intangible assets (subject to amortization) consist of the following items (in thousands):

		December 31, 2023						December 31, 2022
	Useful Life (in years)	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Customer relations	5	$	1,658	$	989	$	669	$	978	$	974	$	4
Vendor relations	10	4,778		4,639		139		4,778		4,575		203
Trademark/Trade name	15	887		657		230		887		608		279
TCEP Technology/Patent	15	13,287		9,724		3,563		13,287		8,838		4,449
Software and cloud	3	12,567		5,627		6,940		9,387		2,495		6,892
		$	33,177	$	21,636	$	11,541	$	29,317	$	17,490	$	11,827

Intangible assets are amortized on a straight-line basis. We continually evaluate the amortization period and carrying basis of intangible assets to determine whether subsequent events and circumstances warrant a revised estimated useful life or reduction in value.

Total amortization expense of intangibles was $4.1 million, $3.7 million and $1.7 million for the years ended December 31, 2023, 2022 and 2021, respectively.

Estimated future amortization expense is as follows:

2024	$	4,414
2025	2,093
2026	1,314
2027	1,124
2028	517
Thereafter	2,079
	$	11,541