XML 64 R16.htm IDEA: XBRL DOCUMENT
v3.25.2

GOODWILL AND INTANGIBLES | 6 Months Ended
--- | ---
Jun. 30, 2025
Goodwill and Intangible Assets Disclosure [Abstract] |
GOODWILL AND INTANGIBLES | GOODWILL AND INTANGIBLES Goodwill consisted of the following:
|  | Goodwill
Balance at December 31, 2024 |  | $ | 71,582 |
Acquisition[1] |  | 728,943 |
Foreign currency translation |  | 1,709 |
Balance at June 30, 2025 |  | $ | 802,234 |
[1] The increase in goodwill pertains to the Acquisition of Alani Nu. Refer to Note 5. Acquisitions for additional information. The carrying amounts and accumulated amortization of intangible assets, net of the impact of foreign exchange rate fluctuations as of June 30, 2025 and December 31, 2024 were as follows:
| Estimated Useful Life in Years |  | June 30, 2025 |  | December 31, 2024
Definite-lived intangible assets |  |  |  |  |
Customer relationships | 5 - 25 |  | $ | 126,644 |  |  | $ | 13,970 |
Brands | 3 |  | 500 |  |  | 500 |
Less: accumulated amortization |  |  | (9,029) |  |  | (2,692) |
Definite-lived intangible assets, net |  |  | $ | 118,115 |  |  | $ | 11,778 |
Indefinite-lived intangibles assets |  |  |  |  |
Brands | indefinite |  | $ | 1,104,482 |  |  | $ | 435 |
Less: impairment[1] |  |  | (482) |  |  | — |
Indefinite-lived intangible assets |  |  | $ | 1,104,000 |  |  | $ | 435 |
Brands-net |  |  | $ | 1,104,389 |  |  | $ | 907 |
Customer relationships-net |  |  | $ | 117,726 |  |  | $ | 11,306 |
[1] During the second quarter of 2025, the Company reassessed the remaining carrying value of the Func Foods brand name intangible asset. The Company recorded a non-cash impairment charge of $0.5 million (including the impact of foreign exchange) to fully write off the remaining carrying amount of the Func Foods brand name. This charge is included within other (expense) income. The following table reflects the future estimated annualized amortization expense related to definite-lived intangible assets:
2025 |  | $ | 11,551 |
2026 |  | 23,102 |
2027 |  | 23,074 |
2028 |  | 22,935 |
2029 |  | 22,935 |
Thereafter |  | 14,518 |
Total |  | $ | 118,115 |
As of June 30, 2025 and December 31, 2024, there were no indicators of goodwill or intangible asset impairment. Intangible asset amortization expense for the three months ended June 30, 2025 and 2024 was approximately $5.8 million and $0.1 million, respectively. Amortization expense for the six months ended June 30, 2025 and 2024 was approximately $6.0 million and $0.3 million, respectively. Amortization expense is primarily included in selling, general and administrative expenses.

X
- References No definition available. + Details
Name: | us-gaap_GoodwillAndIntangibleAssetsDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-30/tableOfContent Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-20/tableOfContent + Details
Name: | us-gaap_GoodwillAndIntangibleAssetsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration