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GOODWILL AND INTANGIBLES | 12 Months Ended
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Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract] |
GOODWILL AND INTANGIBLES |
| 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:
Schedule of accumulated amortization of intangible assets |  |  |  |  |  |  |  |
|  | 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:
Schedule of future estimated amortization expense |  |  |  |
Years ending December 31, |  |  |
2023 |  | $ | 537 |
2024 |  |  | 537 |
2025 |  |  | 537 |
2026 |  |  | 537 |
2027 |  |  | 537 |
Thereafter |  |  | 9,123 |
Total |  | $ | 11,808 |

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -URI https://asc.fasb.org/topic&trid=2144416 + Details
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