| Schedule of intangible assets |
Intangible asset balances consisted of the following:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, |
|
|
|
Amortization |
|
|
|
December 31, |
Intangible assets, net |
|
2023 |
|
Additions |
|
Expense |
|
Impairment |
|
2024 |
Customer relationships |
|
$ |
51,812 |
|
$ |
— |
|
$ |
(6,698) |
|
$ |
(17,401) |
|
$ |
27,713 |
Trademarks |
|
|
14,264 |
|
|
— |
|
|
(2,947) |
|
|
(4,542) |
|
|
6,775 |
License rights(1) |
|
|
2,271 |
|
|
— |
|
|
(18) |
|
|
— |
|
|
2,253 |
Patents & technologies |
|
|
16,450 |
|
|
— |
|
|
(3,290) |
|
|
(5,356) |
|
|
7,804 |
Backlog and non-competition agreements |
|
|
4 |
|
|
— |
|
|
— |
|
|
— |
|
|
4 |
Total intangible assets, net |
|
$ |
84,801 |
|
$ |
— |
|
$ |
(12,953) |
|
$ |
(27,299) |
|
$ |
44,549 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, |
|
|
|
|
Amortization |
|
|
|
|
December 31, |
Intangible assets, net |
|
2022 |
|
Additions |
|
Expense |
|
Impairment |
|
2023 |
Customer relationships |
|
$ |
58,509 |
|
$ |
— |
|
$ |
(6,697) |
|
$ |
— |
|
$ |
51,812 |
Trademarks |
|
|
17,211 |
|
|
— |
|
|
(2,947) |
|
|
— |
|
|
14,264 |
License rights(1) |
|
|
6,468 |
|
|
— |
|
|
(18) |
|
|
(4,179) |
|
|
2,271 |
Management agreements |
|
|
780 |
|
|
|
|
|
(43) |
|
|
(737) |
|
|
— |
Patents & technologies |
|
|
19,740 |
|
|
— |
|
|
(3,290) |
|
|
— |
|
|
16,450 |
Backlog and non-competition agreements |
|
|
5 |
|
|
— |
|
|
(1) |
|
|
— |
|
|
4 |
Total intangible assets, net |
|
$ |
102,713 |
|
$ |
— |
|
$ |
(12,996) |
|
$ |
(4,916) |
|
$ |
84,801 |
_____________
t
|
(1) |
License rights primarily consist of indefinite-lived intangible assets, which pertain to licenses for cultivation, are not subject to amortization and are tested annually for impairment. Refer to Note 2 — Basis of Presentation and Summary of Significant Accounting Policies for further information pertaining to the Company’s accounting policies for its intangible assets. |
|
|
| Schedule of estimated future annual amortization expense |
The following table outlines the estimated future annual amortization expense for intangible assets as of December 31, 2024:
|
|
|
|
|
|
Estimated |
Years ended December 31, |
|
amortization |
2025 |
|
$ |
7,993 |
2026 |
|
|
7,836 |
2027 |
|
|
7,836 |
2028 |
|
|
7,818 |
2029 |
|
|
3,622 |
Thereafter |
|
|
7,244 |
|
|
$ |
42,349 |
|