XML 56 R36.htm IDEA: XBRL DOCUMENT
v3.25.0.1

GOODWILL AND INTANGIBLE ASSETS (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract] |
Schedule of Intangible Assets and Goodwill | Goodwill and intangible assets were comprised of the following:
| December 31, 2024
| Estimated Useful Life |  | Gross Carrying Amount |  | Accumulated Amortization |  | Net Carrying Amount
Brand name | 25 years |  | $ | 952,000 |  |  | $ | (189,556) |  |  | $ | 762,444 |
Product formulations | 15 years |  | 136,500 |  |  | (45,182) |  |  | 91,318 |
Customer relationships | 20 years |  | 53,000 |  |  | (13,191) |  |  | 39,809 |
Software | 3-15 years |  | 10,264 |  |  | (4,286) |  |  | 5,978 |
Total finite-lived intangibles |  |  | 1,151,764 |  |  | (252,215) |  |  | 899,549 |
Goodwill | Indefinite |  | 168,300 |  |  | — |  |  | 168,300 |
Total goodwill and other intangibles |  |  | $ | 1,320,064 |  |  | $ | (252,215) |  |  | $ | 1,067,849 |
| December 31, 2023
| Estimated Useful Life |  | Gross Carrying Amount |  | Accumulated Amortization |  | Net Carrying Amount
Brand name | 25 years |  | $ | 952,000 |  |  | $ | (151,475) |  |  | $ | 800,525 |
Product formulations | 15 years |  | 136,500 |  |  | (36,082) |  |  | 100,418 |
Customer relationships | 20 years |  | 53,000 |  |  | (10,541) |  |  | 42,459 |
Software | 3 years |  | 5,660 |  |  | (1,348) |  |  | 4,312 |
Total finite-lived intangibles |  |  | 1,147,160 |  |  | (199,446) |  |  | 947,714 |
Goodwill | Indefinite |  | 168,300 |  |  | — |  |  | 168,300 |
Total goodwill and other intangibles |  |  | $ | 1,315,460 |  |  | $ | (199,446) |  |  | $ | 1,116,014 |
Schedule of Finite-Lived Intangible Assets Amortization Expense | Amortization of the Company’s definite-lived intangible assets for the years ended December 31, 2024, 2023 and 2022 was as follows:
|  |  | For the Year Ended
|  |  |  |  | December 31, 2024 |  | December 31, 2023 |  | December 31, 2022
Amortization of patented formulations |  |  |  |  | $ | 9,342 |  |  | $ | 8,345 |  |  | $ | 7,500 |
Amortization expense, brand name and customer relationships |  |  |  |  | $ | 40,731 |  |  | $ | 40,730 |  |  | $ | 40,730 |
Amortization expense, software |  |  |  |  | 2,938 |  |  | 738 |  |  | 552 |
Amortization of other intangible assets |  |  |  |  | $ | 43,669 |  |  | $ | 41,468 |  |  | $ | 41,282 |
Amortization of patented formulations capitalized to inventory |  |  |  |  | $ | (242) |  |  | $ | 739 |  |  | $ | 1,566 |
Schedule of Estimated Future Amortization Expense Related to the Finite-lived Intangible Assets | The estimated future amortization expense related to the finite-lived intangible assets as of December 31, 2024 was as follows:
Year ending December 31, |  |
2025 |  | $ | 52,700 |
2026 |  | 51,535 |
2027 |  | 50,564 |
2028 |  | 49,890 |
2029 |  | 49,890 |
Thereafter |  | 644,970 |
Total |  | $ | 899,549 |

X
- Definition Tabular disclosure of amortization expense of assets, excluding financial assets, that lack physical substance, having a limited useful life. + References No definition available. + Details
Name: | us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_GoodwillAndIntangibleAssetsDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of goodwill and intangible assets, which may be broken down by segment or major class. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-30/tableOfContent Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-20/tableOfContent + Details
Name: | us-gaap_ScheduleOfIntangibleAssetsAndGoodwillTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the amount of amortization expense expected to be recorded in succeeding fiscal years for finite-lived intangible assets. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Section 55 -Paragraph 40 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482640/350-30-55-40 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a)(3) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482665/350-30-50-2 + Details
Name: | us-gaap_ScheduleofFiniteLivedIntangibleAssetsFutureAmortizationExpenseTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration