Quarterly report pursuant to Section 13 or 15(d)

Intangible Assets, Net

v3.23.1
Intangible Assets, Net
 3 Months Ended
Mar. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]  
Intangible Assets, Net
13. Intangible Assets, Net
Intangible assets, net, related to continuing operations consisted of the following (in thousands):
March 31, 2023 Amortization Period (Years) Cost Accumulated Amortization Impairment Net
Non-amortizing intangibles
Trade name N/A $ 27,500  $ —  $ —  $ 27,500 
Amortizing intangibles
Broker/customer relationships
9
 334,700  (74,378) —  260,322 
Total intangibles $ 362,200  $ (74,378) $ —  $ 287,822 
December 31, 2022 Amortization Period (Years) Cost Accumulated Amortization Impairment Net
Non-amortizing intangibles
Trade name
N/A
 $ 34,800  $ —  $ (7,300) $ 27,500 
Amortizing intangibles
Broker/customer relationships
9
334,700  (65,081) —  269,619 
Total intangibles $ 369,500  $ (65,081) $ (7,300) $ 297,119 
Amortization expense was $9.3 million for both the three months ended March 31, 2023 and 2022.
The estimated amortization expense for each of the five succeeding fiscal years and thereafter as of March 31, 2023 is as follows (in thousands):
Year Ending December 31, Amount
Remainder of 2023 $ 27,892 
2024 37,189 
2025 37,189 
2026 37,189 
2027 37,189 
Thereafter 83,674 
Total future amortization expense $ 260,322