The following tables present components of "intangible assets, net" recorded in the Company's balance sheets:


(In thousands)	Amortization Period	Amortization Method	Cost		Accumulated Amortization		Net Carrying Amount
December 2025
Finite-lived intangible assets:
Trademarks	16 years	Straight-line	$	58,132	$	52,095	$	6,037
Customer relationships	12 years	Accelerated	$	36,209	$	2,218	$	33,991
Indefinite-lived intangible assets:
Trademarks and trade names							410,389
Intangible assets, net							$	450,417

The Helly Hansen® and Musto® trademarks acquired in 2025, which management believes to have indefinite lives, were valued at $400.0 million and $4.0 million, respectively. In addition, the acquired customer relationships were initially valued at $36.0 million and are being amortized using an accelerated method over a 12-year period. Refer to Note 2 for additional information.

(In thousands)

Amortization Period

Amortization Method

Cost

Accumulated Amortization

Net Carrying Amount

December 2024

Finite-lived intangible assets:

Trademarks

16 years

Straight-line

58,132

51,089

7,043

Indefinite-lived intangible assets:

Trademarks and trade names

4,189

Intangible assets, net

11,232

Amortization expense was $3.2 million in 2025, and $1.0 million in 2024 and 2023. Estimated amortization expense for the next five years is approximately $4.5 million each year.

Refer to Note 15 to the Company's financial statements in this Form 10-K for information on the related fair value considerations.