| Summary of Intangible Assets |
The following is a summary of intangible assets as of June 30, 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, June 30, 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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(1,287 |
) |
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— |
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(1,287 |
) |
Balance, June 30, 2022 |
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(21,423 |
) |
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(2,461 |
) |
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(23,884 |
) |
Net book value |
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$ |
22,637 |
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$ |
— |
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$ |
22,637 |
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Cost |
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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 |
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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, 2021 |
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(17,507 |
) |
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(2,461 |
) |
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|
(19,968 |
) |
Amortization expense |
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(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 |
) |
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|
(22,597 |
) |
Net Book Value |
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$ |
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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Remainder of 2022 |
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$ |
1,288 |
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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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Thereafter |
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12,619 |
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Total |
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$ |
22,637 |
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