Quarterly report pursuant to Section 13 or 15(d)

Intangible Assets and Deferred Charges

v3.22.1
Intangible Assets and Deferred Charges
 3 Months Ended
Mar. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]  
Intangible Assets and Deferred Charges Intangible Assets and Deferred Charges
Intangible assets represent the fair value of intellectual, non-physical assets resulting from business acquisitions and are amortized over their estimated useful life using either an accelerated or straight-line method over a period of eight to 15 years.

The balance of intangible assets subject to amortization are as follows:
(in thousands) March 31, 2022 December 31, 2021
Intangible assets, gross $ 28,876  $ 28,876 
Accumulated amortization of intangible assets (15,215) (14,494)
Intangible assets, net $ 13,661  $ 14,382 

Estimated amortization expense related to intangible assets for the next five years are as follows:
(in thousands)
Remainder of 2022 $ 2,163 
2023 1,433 
2024 1,336 
2025 1,238 
2026 1,141 
2027 1,044 
Thereafter $ 5,306 
Deferred Charges
Deferred charges represent debt issuance costs and are amortized over their estimated useful lives using the straight-line method over a period of four years.
The balance of deferred charges subject to amortization are as follows:
(in thousands) March 31, 2022 December 31, 2021
Deferred charges, gross $ 398  $ 398 
Accumulated amortization of deferred charges (120) (96)
Deferred charges, net $ 278  $ 302