Quarterly report pursuant to Section 13 or 15(d)

Intangible Assets

v3.23.2
Intangible Assets
 6 Months Ended
Jun. 30, 2023
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 June 30, 2023 and December 31, 2022, included in intangible assets, net in the accompanying condensed consolidated balance sheets, are as follows:
June 30, 2023 December 31, 2022
Useful life
Weighted
Average
Amortization
Period 2023
 2023
Weighted
Average
Amortization
Period 2022
 2022
Customer relationships
 4 years 1.6 years $ 21,273  2.0 years $ 21,703 
Brands
 10 years 7.4 years 83,343  7.9 years 84,278 
Trademarks
 5 years 1.8 years 104  2.3 years 107 
Total intangible assets
 104,720  106,088 
Less: accumulated amortization
 (35,079) (29,983)
Total intangible assets, net
 $ 69,641  $ 76,105 
Amortization of acquired intangible assets with finite useful lives is included in general and administrative expenses and was $2.9 million and $4.0 million for the three months ended June 30, 2023 and 2022, respectively, and was $5.9 million and $8.1 million for the six months ended June 30, 2023 and 2022, respectively.
Future estimated amortization expense for acquired identifiable intangible assets is as follows:
Amortization Expense
Year ending December 31:
Remainder of 2023
 $ 5,259 
2024 10,192 
2025 9,482 
2026 8,761 
2027 8,334 
Thereafter 27,613 
Total amortization expense $ 69,641