Annual report pursuant to Section 13 and 15(d)

Goodwill and Intangible Assets (Tables)

v3.24.1
Goodwill and Intangible Assets (Tables)
 12 Months Ended
Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of goodwill
Changes in the carrying amount of goodwill as of December 31, 2023 and December 31, 2022 are as follows:
December 31, 2023 December 31, 2022
Balance, beginning of period $ 6,286  $ 1,835 
Acquired goodwill —  4,451 
Impairment on goodwill
 1,072  — 
Balance, end of period
 $ 5,214  $ 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 December 31, 2023:
Gross carrying amount Accumulated amortization Intangible assets, net Weighted average amortization period (in years)
Customer relationships $ 2,822  $ (469) $ 2,353  10
Trade name 747  (124) 623  10
Noncompetition agreement 52  (43) 9  2
Unfavorable operating lease (21) 9  (12) 4
Total $ 3,600  $ (627) $ 2,973 
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 $ 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 December 31, 2023 will be as follows:
Amortization expense
2024 $ 360 
2025 352 
2026 357 
2027 357 
2028 357 
Thereafter 1,190 
Total $ 2,973