Quarterly report [Sections 13 or 15(d)]

Intangible Assets and Deferred Charges

v3.26.1
Intangible Assets and Deferred Charges
 6 Months Ended
Jun. 30, 2026
Intangible Asset, Goodwill and Other [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 an accelerated method over a period ranging from three to 20 years. The weighted average amortization period for the customer relationships is approximately 17.52 years. Amortization expense is included in selling, general, and administrative expense on the unaudited condensed consolidated statements of income (loss).
The balance of intangible assets from continuing operations subject to amortization are as follows:
June 30, 2026 December 31, 2025
(in thousands) Gross Carrying Amount Accumulated Amortization Gross Carrying Amount Accumulated Amortization
Definite-lived intangible assets:
Customer related $ 12,500  $ (3,195) $ 5,100  $ (2,779)
Trademarks and trade names 415  (56) 150  (32)
Other 500  (156) 500  (106)
Total definite-lived intangible assets $ 13,415  $ (3,407) $ 5,750  $ (2,917)
Estimated amortization expense related to intangible assets for the next five years are as follows:
(in thousands)
Remainder of 2026 $ 1,178 
2027 1,894 
2028 1,445 
2029 1,129 
2030 891 
2031 727 
Thereafter $ 2,744 

Deferred charges represent debt issuance costs and are amortized over their estimated useful lives using the straight-line method over a period of 2.5 years.
The balance of deferred charges subject to amortization are as follows:
(in thousands) June 30, 2026 December 31, 2025
Deferred charges, gross $ 506  $ 506 
Accumulated amortization of deferred charges (205) (105)
Deferred charges, net $ 301  $ 401