Annual report pursuant to Section 13 and 15(d)

Intangible Assets

v3.24.0.1
Intangible Assets
12 Months Ended
Dec. 31, 2023
Intangible Assets.  
Intangible Assets

6.Intangible Assets

All of our intangible assets are subject to amortization and substantially all are related to customer contracts acquired through acquisitions. The components of the intangible assets are as follows:

(in thousands)

    

December 31, 

December 31,

    

2023

2022

Gross Value

$

366,683

$

366,683

Accumulated Amortization

(134,406)

(96,838)

Net Carrying Value

$

232,277

$

269,845

Substantially all of the net carrying value of our intangible assets is attributable to contracts that expire in 2035. The table below shows the expected amortization of intangibles as of December 31, 2023:

(in thousands)

    

Amount

2024

$

37,053

2025

35,215

2026

32,123

2027

27,893

2028

23,190

Thereafter

76,803

Amortization expense totaled $37.6 million, $36.7 million and $32.6 million for the years ended December 31, 2023, 2022 and 2021, respectively.