Quarterly report pursuant to Section 13 or 15(d)

Goodwill and Intangible Assets (Tables)

v3.23.3
Goodwill and Intangible Assets (Tables)
 9 Months Ended
Sep. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of goodwill
Changes in the carrying amount of goodwill as of September 30, 2023 and December 31, 2022 are as follows:
September 30,
2023		 December 31,
2022
Balance, beginning of period $ 6,286  $ 1,835 
Acquired goodwill —  4,451 
Balance, end of period
 $ 6,286  $ 6,286 
Schedule of finite-lived intangible assets
The estimated useful lives of the identifiable intangible assets acquired is as follows:
Gross Value Estimated Life (in years)
Customer relationships $ 264  10
Trade name 240  10
Acquired software platform 910  10
Customer list 190  3
Total intangible assets $ 1,604 
The estimated useful lives of the identifiable intangible assets acquired is as follows:
May 9, 2022 Estimated Life (in years)
Customer relationships $ 2,822  10
Trade name 647  10
Noncompetition agreement 52  2
Favorable operating lease 699  4
Unfavorable operating lease (21) 4
Total intangible assets $ 4,199 
Intangible assets consisted of the following as of September 30, 2023:
Gross carrying amount Accumulated amortization Intangible assets, net Weighted average amortization period (in years)
Customer relationships $ 3,086  $ (437) $ 2,649  10
Trade name 987  (140) 847  10
Acquired software platform 910  (129) 781  10
Customer lists 190  (90) 100  3
Noncompetition agreement 52  (37) 15  2
Unfavorable operating lease (21) 8  (13) 4
Total intangible assets, net $ 5,204  $ (825) $ 4,379 
During the three and nine months ended September 30, 2023, the Company wrote off $481 of intangible assets related to the favorable operating lease. There were no intangible assets written off during the three and nine months ended September 30, 2022.
Intangible assets consisted of the following as of December 31, 2022:
Gross carrying amount Accumulated amortization Intangible assets, net Weighted average amortization period (in years)
Customer relationships $ 3,086  $ (206) $ 2,880  10
Trade name 987  (66) 921  10
Acquired software platform 910  (61) 849  10
Customer lists 190  (42) 148  3
Noncompetition agreement 52  (17) 35  2
Favorable operating lease 699  (117) 582  4
Unfavorable operating lease (21) 4  (17) 4
Total intangible assets, net $ 5,903  $ (505) $ 5,398 
Schedule of finite-lived intangible assets, future amortization expense The Company estimates the future aggregate amortization expense related to its intangible assets as of September 30, 2023 will be as follows:
Amortization expense
Remainder of 2023 $ 146 
2024 565 
2025 514 
2026 497 
2027 498 
Thereafter 2,159 
Total $ 4,379