|12 Months Ended|
Dec. 31, 2022
|Goodwill and Intangible Assets Disclosure [Abstract]|
|Intangible Assets||Intangible Assets
The gross amounts and accumulated amortization of acquired identifiable intangible assets with finite useful lives as of December 31, 2022 and 2021, included in intangible assets, net in the accompanying consolidated balance sheets, are as follows:
Amortization of acquired intangible assets with finite useful lives is included in general and administrative expenses and was $14.2 million, $13.9 million and $6.4 million for the years ended December 31, 2022, 2021 and 2020, respectively. In September 2022, we completed an intra-entity transfer of certain intellectual property rights related to Culture Kings’ brands to one of our subsidiaries in the U.S., aligning the ownership of these rights with our evolving business. The transferred brands had a gross value of $57.4 million and accumulated amortization of $8.7 million at the time of transfer and the gross value was reset to the net book value of $48.7 million upon completion of the transfer.
Future estimated amortization expense for acquired identifiable intangible assets is as follows:
No definition available.
The entire disclosure for all or part of the information related to intangible assets.
Reference 1: http://www.xbrl.org/2003/role/disclosureRef