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Intangible Assets and Goodwill
 9 Months Ended
Sep. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]  
Intangible Assets and Goodwill
NOTE 7 — Intangible Assets and Goodwill
Intangible Assets
The details of the intangible assets are as follows:
(in thousands)
Weighted-average amortization period (in years)
September 30, 2022December 31, 2021
Reacquired franchise rights3.6$27,049 $25,314 
Less: accumulated amortization(17,223)(14,211)
Intangibles, net$9,826 $11,103 
Amortization expense included in the Company’s condensed consolidated statements of operations was as follows:
Three Months Ended September 30,Nine Months Ended September 30,
(in thousands)2022202120222021
Cost of sales$1,055 $948 $3,012 $2,579 
The estimated future amortization expense of the reacquired franchise rights as of September 30, 2022 is as follows:
(in thousands)
Remainder of 2022$1,022 
20233,389 
20242,469 
20251,435 
2026681 
Thereafter830 
Total $9,826 
Goodwill
Goodwill is allocated entirely to the Company-operated shops segment. The carrying amount and activity of goodwill was as follows:
(in thousands) 
Balance, December 31, 2021$18,715 
Business combinations2,914 
Balance, September 30, 2022$21,629 
No impairment charges were recognized for the nine months ended September 30, 2022 and 2021.