v3.26.1
Intangible Assets, Net
6 Months Ended
Jun. 30, 2026
Intangible Assets, Net  
Intangible Assets, Net

Note 8. Intangible Assets, Net

The following table summarizes intangible assets, net as of June 30, 2026 and December 31, 2025:

June 30, 2026

Accumulated

(Thousands)

  ​ ​ ​

Cost

  ​ ​ ​

Amortization

  ​ ​ ​

Net

Customer relationships

$

148,648

$

(45,761)

$

102,887

Software

1,356

(975)

381

Intangible assets, net

$

150,004

$

(46,736)

$

103,268

December 31, 2025

Accumulated

(Thousands)

  ​ ​ ​

Cost

  ​ ​ ​

Amortization

  ​ ​ ​

Net

Customer relationships

$

148,648

$

(41,907)

$

106,741

Favorable lease asset

220

(220)

Software

1,307

(907)

400

Intangible assets, net

$

150,175

$

(43,034)

$

107,141

Amortization expense of intangible assets was $1.9 million and $3.9 million for the three and six months ended June 30, 2026, respectively, and amortization expense of intangible assets was $2.0 million and $3.9 million for the three and six months ended June 30, 2025, respectively. As of June 30, 2026, the weighted average useful life for definite-lived intangibles is approximately 20 years.