TILT Holdings Inc. Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

Intangible Assets (Tables)

Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2023

Intangible asset balances consisted of the following:


Intangible assets	December 31, 2023		December 31, 2022
Customer relationships	$	85,300	$	85,300
Trademarks		29,000		29,000
License rights⁽¹⁾		2,361		6,540
Management agreements		—		926
Patents & technologies		32,900		32,900
Backlog and non-competition agreements		10,406		10,406
Total intangible assets, at cost		159,967		165,072
Less: Accumulated amortization		(75,166)		(62,358)
Total intangible assets, net	$	84,801	$	102,714

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(1)

License rights primarily consists 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, 2023:


	Estimated
Years ended December 31,	amortization
2024	$	12,953
2025		12,953
2026		12,796
2027		12,796
2028		12,778
Thereafter		18,325
	$	82,601