Quarterly report pursuant to Section 13 or 15(d)

Intangible Assets, Net (Tables)

v3.23.1
Intangible Assets, Net (Tables)
3 Months Ended
Mar. 31, 2023
Intangible Assets, Net (Excluding Goodwill) [Abstract]  
Summary of Intangible Assets

The following is a summary of intangible assets as of March 31, 2023 and December 31, 2022:

 

 

Customer
Relationships

 

 

Other
Intangible
Assets

 

 

Total

 

Cost

 

 

 

 

 

 

 

 

 

Balance, January 1, 2023

 

$

44,060

 

 

$

2,461

 

 

$

46,521

 

Balance, March 31, 2023

 

 

44,060

 

 

 

2,461

 

 

 

46,521

 

Useful lives

 

10-20 years

 

 

3-5 years

 

 

 

 

Accumulated amortization

 

 

 

 

 

 

 

 

 

Balance, January 1, 2023

 

 

(22,711

)

 

 

(2,461

)

 

 

(25,172

)

Amortization expense

 

 

(630

)

 

 

 

 

 

(630

)

Balance, March 31, 2023

 

 

(23,341

)

 

 

(2,461

)

 

 

(25,802

)

Net book value

 

$

20,719

 

 

$

 

 

$

20,719

 

Cost

 

 

 

 

 

 

 

 

 

Balance, January 1, 2022

 

$

44,060

 

 

$

2,461

 

 

$

46,521

 

Balance, March 31, 2022

 

 

44,060

 

 

 

2,461

 

 

 

46,521

 

Useful lives

 

10-20 years

 

 

3-5 years

 

 

 

 

Accumulated amortization

 

 

 

 

 

 

 

 

 

Balance, January 1, 2022

 

 

(20,136

)

 

 

(2,461

)

 

 

(22,597

)

Amortization expense

 

 

(644

)

 

 

 

 

 

(644

)

Balance, March 31, 2022

 

 

(20,780

)

 

 

(2,461

)

 

 

(23,241

)

Net Book Value

 

$

23,280

 

 

$

 

 

$

23,280

 

Schedule of Future Amortization Related to Intangible Assets

Amortization related to the Company’s finite life intangible assets is scheduled to be expensed over the next five years and thereafter as follows:

 

Remainder of 2023

 

$

1,786

 

2024

 

 

2,289

 

2025

 

 

2,193

 

2026

 

 

1,832

 

2027

 

 

1,828

 

Thereafter

 

 

10,791

 

Total

 

$

20,719