| Summary of Intangible Assets |
The following is a summary of intangible assets as of December 31, 2022 and December 31, 2021:
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Customer
Relationships |
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Other
Intangible
Assets |
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Total |
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Cost |
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Balance, January 1, 2022 |
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$ |
44,060 |
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|
$ |
2,461 |
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|
$ |
46,521 |
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Balance, December 31, 2022 |
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|
44,060 |
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|
2,461 |
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|
46,521 |
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Useful lives |
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10-20 years |
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3-5 years |
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Accumulated amortization |
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Balance, January 1, 2022 |
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(20,136 |
) |
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(2,461 |
) |
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|
(22,597 |
) |
Amortization expense |
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|
(2,575 |
) |
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— |
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(2,575 |
) |
Balance, December 31, 2022 |
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|
(22,711 |
) |
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(2,461 |
) |
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|
(25,172 |
) |
Net book value |
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$ |
21,349 |
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|
$ |
— |
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|
$ |
21,349 |
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Cost |
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|
|
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Balance, January 1, 2021 |
|
$ |
44,060 |
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|
$ |
2,461 |
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|
$ |
46,521 |
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Balance, December 31, 2021 |
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|
44,060 |
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|
|
2,461 |
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|
|
46,521 |
|
Useful lives |
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10-20 years |
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3-5 years |
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Accumulated amortization |
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|
|
|
|
|
|
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Balance, January 1, 2021 |
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|
(17,507 |
) |
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|
(2,461 |
) |
|
|
(19,968 |
) |
Amortization expense |
|
|
(2,629 |
) |
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|
— |
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|
|
(2,629 |
) |
Balance, December 31, 2021 |
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|
(20,136 |
) |
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|
(2,461 |
) |
|
|
(22,597 |
) |
Net book value |
|
$ |
23,924 |
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|
$ |
— |
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|
$ |
23,924 |
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| Schedule of Future Amortization Related to Intangible Assets |
Amortization related to the Company’s finite life intangible assets is scheduled to be expensed over the next five years and thereafter as follows:
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2023 |
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$ |
2,416 |
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2024 |
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|
2,289 |
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2025 |
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|
2,193 |
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2026 |
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|
1,832 |
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2027 |
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|
1,828 |
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Thereafter |
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|
10,791 |
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Total |
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$ |
21,349 |
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