Quarterly report pursuant to Section 13 or 15(d)

Intangible Assets (Tables)

v3.23.1
Intangible Assets (Tables)
3 Months Ended
Mar. 31, 2023
Intangible Assets  
Schedule of Intangible Assets

Intangible asset balances consisted of the following:

Intangible assets

    

March 31, 2023

    

December 31, 2022

Customer relationships

$

85,300

$

85,300

Trademarks

29,000

29,000

License rights(1)

6,540

6,540

Management agreements

926

926

Patents & technologies

32,900

32,900

Backlog and non-competition agreements

10,406

10,406

Total intangible assets, at cost

165,072

165,072

Less: Accumulated amortization

(65,622)

(62,358)

Total intangible assets, net

$

99,450

$

102,714

_____________

(1)License rights primarily consists of indefinite-lived intangible assets, which pertain to licenses for cultivation and processing, are not subject to amortization and are tested annually for impairment. Refer to Note 2 — Basis of Presentation and Summary of Significant Accounting Policies of the Company’s audited consolidated financial statements and accompanying notes as of and for the years ended December 31, 2022 and 2021 filed on Form 10-K 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 related to intangible assets as of March 31, 2023:

Estimated

Years ended December 31, 

amortization

Remainder of 2023

$

9,792

2024

13,056

2025

13,056

2026

12,899

2027

12,899

Thereafter

31,369

$

93,071