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Goodwill and Intangible Assets

7 Months Ended

Dec. 31, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets

7. Goodwill and Intangible Assets

The following table summarizes Goodwill activity for the period from inception (May 19, 2021) to December 31, 2021:

		December 31, 2021
		(In thousands)
Balance, May 19, 2021		$	79,954
Impact of foreign currency translation			(4,451	)
Balance, December 31, 2021		$	75,503

The following table summarizes the Company’s Intangible assets, excluding Goodwill:

		December 31, 2021
		Gross Carrying Amount				Accumulated Amortization
		(In thousands)
Indefinite-lived intangible assets
Trade names		$	4,124			$	—
Definite-lived intangible assets
Software			1,509				(1,280	)
Acquired customer relationships			27,402				(12,432	)
		$	33,035			$	(13,712	)

Amortization expense for the period from inception (May 19, 2021) to December 31, 2021 was $1.0 million. See Note 2, “Summary of Significant Accounting Policies” for discussion regarding impairment of Intangible assets.

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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

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