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GOODWILL AND OTHER INTANGIBLE ASSETS

12 Months Ended

Dec. 31, 2023

GOODWILL AND OTHER INTANGIBLE ASSETS

10. GOODWILL AND OTHER INTANGIBLE ASSETS

The following is a roll-forward of goodwill for the years ended December 31, 2023 and 2022 by reportable segment:


	Monster
	Energy®		Strategic		Alcohol
	Drinks		Brands		Brands		Other		Total
Balance at December 31, 2022	$	693,644	$	637,999	$	86,298	$	—	$	1,417,941
Acquisitions		—		—		—		—		—
Balance at December 31, 2023	$	693,644	$	637,999	$	86,298	$	—	$	1,417,941


	Monster
	Energy®		Strategic		Alcohol
	Drinks		Brands		Brands		Other		Total
Balance at December 31, 2021	$	693,644	$	637,999	$	—	$	—	$	1,331,643
Acquisitions		—		—		86,298		—		86,298
Balance at December 31, 2022	$	693,644	$	637,999	$	86,298	$	—	$	1,417,941

Intangible assets consist of the following at:


	December 31,		December 31,
	2023		2022
Amortizing intangibles	$	144,582	$	121,378
Accumulated amortization		(74,699)		(68,790)
		69,883		52,588
Non-amortizing intangibles		1,357,256		1,167,822
	$	1,427,139	$	1,220,410

Amortizing intangibles primarily consist of customer relationships. All amortizing intangibles have been assigned an estimated finite useful life and such intangibles are amortized on a straight-line basis over the number of years that approximate their respective useful lives, generally ten to fifteen years. Total amortization expense recorded was $5.9 million, $7.6 million and $4.4 million for the years ended December 31, 2023, 2022 and 2021, respectively. For the years ended December 31, 2023 and 2022, impairment charges of $38.7 million and $2.2 million, respectively, were recorded to non-amortizing intangibles. For the year ended December 31, 2021, no intangible impairments were recorded.

The following is the future estimated amortization expense related to amortizing intangibles as of December 31, 2023:


Year Ending December 31:

2024	$	5,948
2025		5,947
2026		5,947
2027		5,946
2028		5,945
2029 and thereafter		40,150
	$	69,883

At December 31, 2023, non-amortizing intangibles primarily consist of indefinite-lived tradenames, flavors and formulas.