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GOODWILL AND OTHER INTANGIBLE ASSETS, NET
12 Months Ended
Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]  
GOODWILL AND OTHER INTANGIBLE ASSETS GOODWILL AND OTHER INTANGIBLE ASSETS, NET
Changes in the carrying amount of goodwill consisted of the following:
Years Ended December 31,
20222021
(In thousands)
Beginning balance$7,470 $— 
Acquisition of business— 7,470 
Tax adjustment (Note 15)71 — 
Impairment losses— — 
Ending balance$7,541 $7,470 
The ending balance of goodwill includes no accumulated impairment losses to date. All goodwill is allocated to our Industrial Operations segment, refer to Note 1 for additional information related to the Printronix acquisition.
Other intangible assets, net consisted of the following:
December 31, 2022
Weighted Average Amortization PeriodGross Carrying AmountAccumulated AmortizationNet Book Value
(In thousands)
Patents:
Intellectual property operations6 years$331,403 $(304,744)$26,659 
Industrial operations7 years3,400 (597)2,803 
Total patents334,803 (305,341)29,462 
Customer relationships - industrial operations7 years5,300 (931)4,369 
Trade name and trademarks - industrial operations7 years3,430 (603)2,827 
Total$343,533 $(306,875)$36,658 
December 31, 2021
Weighted Average Amortization PeriodGross Carrying AmountAccumulated AmortizationNet Book Value
(In thousands)
Patents:
Intellectual property operations6 years$331,403 $(294,341)$37,062 
Industrial operations7 years3,400 (112)3,288 
Total patents334,803 (294,453)40,350 
Customer relationships - industrial operations7 years5,300 (174)5,126 
Trade name and trademarks - industrial operations7 years3,430 (113)3,317 
Total$343,533 $(294,740)$48,793 
Total other intangible asset amortization expense in the consolidated statements of operations was $12.1 million and $10.3 million for the years ended December 31, 2022 and 2021, respectively. The Company did not record charges related to impairment of other intangible assets for the years ended December 31, 2022 and 2021. There was no accelerated amortization of other intangible assets for the years ended December 31, 2022 and 2021. During 2021, ARG reduced its gross patent costs and accumulated amortization by approximately $35.0 million for patents that were fully amortized. Intellectual Property Operations amortization of patents is expensed in cost of revenues and Industrial Operations amortization is expensed in general and administrative expenses.
The following table presents the scheduled annual aggregate amortization expense (in thousands):
Years Ending December 31,
2023$12,068 
202410,693 
20258,347 
20262,483 
20271,733 
Thereafter1,334 
Total$36,658 
During the year ended December 31, 2022, ARG entered into an agreement granting ARG the exclusive option to acquire all rights to license and enforce a patent portfolio and all future patents and patent applications, and incurred $15.0 million of certain patent and patent rights costs, of which $6.0 million was paid in 2022 and $9.0 million is accrued and included in
accrued expenses and other current liabilities (see Note 7), and is due in three $3.0 million installments in February, April and June 2023. The patent costs are included in prepaid expenses and other current assets in the consolidated balance sheet as of December 31, 2022.