v3.26.3
Intangible Assets, Net
9 Months Ended
Sep. 30, 2026
Intangible Assets, Net  
Intangible Assets, Net

Note 8. Intangible Assets, Net

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

​

​

​

​

​

​

​

​

​

​

​

​

​

September 30, 2026

​

​

​

​

Accumulated

​

​

(Thousands)

  ​ ​ ​

Cost

  ​ ​ ​

Amortization

  ​ ​ ​

Net

Customer relationships

​

$

148,648

​

$

(47,689)

​

$

100,959

Software

​

​

1,378

​

​

(1,010)

​

​

368

Intangible assets, net

​

$

150,026

​

$

(48,699)

​

$

101,327

​

​

​

​

​

​

​

​

​

​

​

​

​

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 $2.0 million and $5.9 million for the three and nine months ended September 30, 2026, respectively, and amortization expense of intangible assets was $2.0 million and $5.9 million for the three and nine months ended September 30, 2025, respectively. As of September 30, 2026, the weighted average useful life for definite-lived intangibles is approximately 20 years.