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Amortizable Intangible Assets | 3 Months Ended
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Mar. 31, 2023
Amortizable Intangible Assets |
Amortizable Intangible Assets | 6. Amortizable Intangible Assets In January 2019, GCE completed the Acquisition. The Acquisition was accounted for in accordance with the acquisition method of accounting. Under this method the cost of the target is allocated to the identifiable assets acquired and liabilities assumed based on their estimated fair values at the date of acquisition. Identified intangible assets of $210,280 consisted primarily of university partner relationships that were valued at $210,000. The fair value of university partner relationships was determined using the multiple-period excess earnings method. Amortizable intangible assets consist of the following as of: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | March 31, 2023
​ | Estimated | ​ | Gross | ​ | ​ | ​ | ​ | Net
​ | Average Useful | ​ | Carrying | ​ | Accumulated | ​ | Carrying
​ | Life (in years) | ​ | Amount | ​ | Amortization | ​ | Amount
University partner relationships | 25 |  | $ | 210,000 |  | $ | (35,305) |  | $ | 174,695
Trade names | 1 | ​ | ​ | 280 | ​ | ​ | (280) | ​ |  | —
Total amortizable intangible assets, net | ​ | ​ | $ | 210,280 | ​ | $ | (35,585) | ​ | $ | 174,695
​ Amortization expense for university partner relationships and trade names for the years ending December 31:
​ | ​ | ​ | ​
2023 | ​ | $ | 6,314
2024 | ​ |  | 8,419
2025 | ​ | ​ | 8,419
2026 | ​ | ​ | 8,419
2027 | ​ | ​ | 8,419
Thereafter | ​ |  | 134,705
​ | ​ | $ | 174,695
​

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- Definition The entire disclosure for all or part of the information related to intangible assets. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -URI https://asc.fasb.org/subtopic&trid=2144471 + Details
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