GOODWILL AND INTANGIBLES

12 Months Ended

Dec. 31, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

10.

GOODWILL AND INTANGIBLES

At December 31, 2022, goodwill consists of approximately $13.7 million resulting from the excess of the consideration paid and the fair value of net tangible and intangible assets acquired from the Func Food acquisition.

Intangible assets consist of acquired customer relationships and brands from the Func Food acquisition. The gross carrying amount and accumulated amortization of intangible assets were as follows as of December 31, 2022 and December 31, 2021:


	December 31,			December 31,
	2022			2021
Definite-lived intangible assets
Customer relationships	$	13,418		$	14,248
Less: accumulated amortization		(1,610	)		(1,140	)
Definite-lived intangible assets, net	$	11,808		$	13,108

Indefinite-lived intangible assets
Brands	$	2,984		$	3,193
Less: Impairment		(2,538	)		—
Indefinite-lived intangible assets, net	$	446		$	3,193
Total Intangibles	$	12,254		$	16,301

Customer relationships are amortized over an estimated useful life of 25 years and brands have an indefinite life. Amortization expense for the years ended December 31, 2022, 2021, and 2020 was approximately $0.5 million, $0.6 million, and $0.6 million, respectively and is reflected in general and administrative expenses. See note 2. Basis of Presentation and Summary of Significant Accounting Policies, for more information regarding our indefinite-lived intangible asset, Brands.

Other fluctuations in the amounts of intangible assets are due to currency translation adjustments.

The following is the future estimated amortization expense related to customer relationships as of December 31, 2022:


Years ending December 31,
2023	$	537
2024		537
2025		537
2026		537
2027		537
Thereafter		9,123
	$	11,808