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Intangible and Other Long-Term Assets
 12 Months Ended
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