Annual report pursuant to Section 13 and 15(d)

Intangible Assets (Tables)

v3.24.0.1
Intangible Assets (Tables)
 12 Months Ended
Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Acquired Finite-Lived Intangible Assets The fair value of the acquired intangible assets was determined with the assistance of a valuation specialist and include:
Fair Value at Acquisition Date
Annual Amortization Expense
Estimated Useful
Life in Years
Brand names
 $ 68,354  $ 6,835  10 years
Customer relationships
 4,855  1,214  4 years
Total $ 73,209 
The fair value of the acquired intangible assets was determined with the assistance of a valuation specialist and include:
Fair Value at Acquisition Date
Amortization Period
Brand $ 11,800  10 years
Customer relationships 2,500  3 years
Total intangible assets $ 14,300 
The gross amounts and accumulated amortization of acquired identifiable intangible assets with finite useful lives as of December 31, 2023 and 2022, included in intangible assets, net in the accompanying consolidated balance sheets, are as follows:
December 31,
Useful life
Weighted
Average
Amortization
Period 2023
 2023
Weighted
Average
Amortization
Period 2022
 2022
Customer relationships
 4 years 1.2 years $ 21,640  2.0 years $ 21,703 
Brands
 10 years 6.9 years 84,023  7.9 years 84,278 
Trademarks
 5 years 1.3 years 107  2.3 years 107 
Total intangible assets
 105,770  106,088 
Less accumulated amortization
 (41,448) (29,983)
Total intangible assets, net
 $ 64,322  $ 76,105 
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense
Future estimated amortization expense for acquired identifiable intangible assets is as follows:
Year ending December 31:
2024 $ 10,263 
2025 9,553 
2026 8,749 
2027 8,402 
2028 7,533 
Thereafter 19,822 
Total amortization expense $ 64,322