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Intangible and Other Long-Term Assets | 12 Months Ended
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Dec. 31, 2022
Intangible and Other Long-Term Assets [Abstract] |
Intangible and other long-term assets |
| 12. | Intangible and other long-term assets
The balances as of December 31, 2022 and 2021 are as follows:
|  | 2022 |  |  | Amortization |
Assets |  | Original Value |  |  | Accumulated amortization |  |  | Net |  |  | period (years) |
Republic trade mark |  | $ | 104,289 |  |  | $ |  |  |  | $ | 104,289 |  |  |  | * |
Customers list |  |  | 63,664 |  |  |  | 63,664 |  |  |  |  |  |  |  | 20 |
Total from Republic (1) |  |  | 167,953 |  |  |  | 63,664 |  |  |  | 104,289 |  |  |  |  |
Customers list |  |  | 2,205,700 |  |  |  | 2,205,700 |  |  |  |  |  |  |  | 9 |
San 42 trademark (2) |  |  | 329,600 |  |  |  |  |  |  |  | 329,600 |  |  |  | * |
Goodwill (2) |  |  | 1,814,160 |  |  |  |  |  |  |  | 1,814,160 |  |  |  | * |
Total from Grupo San (3) |  |  | 4,349,460 |  |  |  | 2,205,700 |  |  |  | 2,143,760 |  |  |  |  |
|  |  | 4,517,413 |  |  |  | 2,269,364 |  |  |  | 2,248,049 |  |  |  |  |
Other assets |  |  | 77,206 |  |  |  |  |  |  |  | 77,206 |  |  |  |  |
|  | $ | 4,594,619 |  |  | $ | 2,269,364 |  |  | $ | 2,325,255 |  |  |  |  |
|  | 2021 |  |  | Amortization |
Assets |  | Original Value |  |  | Accumulated Amortization |  |  | Net |  |  | period (years) |
Republic trade mark |  | $ | 110,506 |  |  | $ |  |  |  | $ | 110,506 |  |  |  | * |
Customers list |  |  | 67,459 |  |  |  | 67,459 |  |  |  |  |  |  |  | 20 |
Total from Republic (1) |  |  | 177,965 |  |  |  | 67,459 |  |  |  | 110,506 |  |  |  |  |
Customers list |  |  | 2,205,700 |  |  |  | 2,205,700 |  |  |  |  |  |  |  | 9 |
San 42 trademark (2) |  |  | 329,600 |  |  |  |  |  |  |  | 329,600 |  |  |  | * |
Goodwill (2) |  |  | 1,814,160 |  |  |  |  |  |  |  | 1,814,160 |  |  |  | * |
Total from Grupo San (3) |  |  | 4,349,460 |  |  |  | 2,205,700 |  |  |  | 2,143,760 |  |  |  |  |
|  |  | 4,527,425 |  |  |  | 2,273,159 |  |  |  | 2,254,266 |  |  |  |  |
Other assets |  |  | 58,303 |  |  |  |  |  |  |  | 58,303 |  |  |  |  |
|  | $ | 4,585,728 |  |  | $ | 2,273,159 |  |  | $ | 2,312,569 |  |  |  |  |
| * | Intangible assets with undefined useful life.
| (1) | Intangible assets from the Republic acquisition.
| (2) | The San 42 trademark and the goodwill are presented net of impairment losses recorded in 2009 for $16,000 and $2,352,000, respectively.
| (3) | Intangible assets from the Grupo San acquisition.
The amortization of these assets recorded in net income for the years ended December 31, 2022 and 2021, amounted to $ 10,609 and $ 10,522, respectively. The other assets are not subject to amortization and they are primarily comprised of guarantee deposits. The reconciliation between the opening and closing balances of each year is presented below:
Assets |  | Original Value |  |  | Accumulated amortization |  |  | Net |
Balance as of December 31, 2020 |  | $ | 4,719,347 |  |  | $ | (2,396,391 | ) |  | $ | 2,322,956 |
Additions |  |  | 10,520 |  |  |  | (10,520 | ) |  |  | 0 |
Cancellations |  |  | (128,785 | ) |  |  | 128,785 |  |  |  | 0 |
Adjustment effect of the year |  |  | (15,354 | ) |  |  | 4,967 |  |  |  | (10,387 | )
Balance as of December 31, 2021 |  | $ | 4,585,728 |  |  | $ | (2,273,159 | ) |  | $ | 2,312,569 |
Additions |  |  | 10,609 |  |  |  | (10,609 | ) |  |  | 0 |
Cancellations |  |  | (2,505 | ) |  |  | 2,505 |  |  |  | 0 |
Adjustment effect of the year |  |  | 787 |  |  |  | 11,899 |  |  |  | 12,686 |
Balance as of December 31, 2022 |  | $ | 4,594,619 |  |  | $ | (2,269,364 | ) |  | $ | 2,325,255 |

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