| Summary of Intangible Assets |
Intangible assets consist of the following:
|
|
|
|
|
|
|
|
|
|
|
(dollar amounts in thousands) |
|
Estimated
useful life
in years |
|
Average remaining life in years |
|
Cost |
|
Accumulated amortization |
|
Net book value |
June 30, 2025 |
|
|
|
|
|
|
|
|
|
|
Customer relationships |
|
6 to 11 |
|
6.5 |
|
$75,734 |
|
$(29,069) |
|
$46,665 |
Non-compete agreements |
|
5 |
|
2.5 |
|
10,806 |
|
(6,286) |
|
4,520 |
Trade name |
|
0.75 to 8 |
|
3.8 |
|
2,000 |
|
(1,437) |
|
563 |
Total amortizing |
|
|
|
|
|
88,540 |
|
(36,792) |
|
51,748 |
Trade name - non-amortizing |
|
Indefinite |
|
|
|
171 |
|
— |
|
171 |
Total |
|
|
|
|
|
$88,711 |
|
$(36,792) |
|
$51,919 |
|
|
|
|
|
|
|
|
|
|
|
December 31, 2024 |
|
|
|
|
|
|
|
|
|
|
Customer relationships |
|
8 to 11 |
|
6.9 |
|
$73,217 |
|
$(25,010) |
|
$48,207 |
Non-compete agreements |
|
5 |
|
2.8 |
|
10,556 |
|
(5,239) |
|
5,317 |
Trade name |
|
0.75 to 8 |
|
4.3 |
|
2,000 |
|
(1,363) |
|
637 |
Total amortizing |
|
|
|
|
|
85,773 |
|
(31,612) |
|
54,161 |
Trade name - non-amortizing |
|
Indefinite |
|
|
|
171 |
|
— |
|
171 |
Total |
|
|
|
|
|
$85,944 |
|
$(31,612) |
|
$54,332 |
|
|
|
|
|
|
|
|
|
|
|
|