Intangible and Other Non-Current Assets

12 Months Ended

Dec. 31, 2023

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

Intangible and other non-current assets are as follows (in thousands):


	December 31, 2022		December 31, 2023
Tradenames	$	25,610	$	28,862
Capitalized commissions on preneed contracts, net of accumulated amortization of $2,990 and $3,788, respectively	4,048		4,678
Prepaid agreements not-to-compete, net of accumulated amortization of $3,515 and $3,158, respectively	1,877		1,335
Internal-use software, net of accumulated amortization of $200 and $444, respectively	1,271		2,422
Other	124		380
Intangible and other non-current assets, net	$	32,930	$	37,677

Tradenames

During the year ended December 31, 2023, we increased the value of our tradenames by $3.5 million, with $1.3 million allocated to our funeral home segment and $2.2 million allocated to our cemetery segment, related to our acquisition of a business located in Bakersfield, CA, as more fully described in Note 3 to the Consolidated Financial Statements.

As a result of our 2023 qualitative assessment, we determined that there were factors that would indicate the need to perform an additional quantitative impairment test for certain funeral home businesses. As a result of this additional quantitative impairment test, we recorded an impairment to the tradenames for two of our funeral homes of $0.2 million, during the year ended December 31, 2023, as the carrying amount of these tradenames exceeded the fair value. For our 2022 annual

assessment, there was no impairment to intangibles assets. See Note 1 to the Consolidated Financial Statements included herein for a discussion of the methodology used for our indefinite-lived intangible asset impairment test.

Capitalized Commissions

Amortization expense was $0.6 million, $0.7 million and $0.8 million for the years ended December 31, 2021, 2022 and 2023, respectively.

Prepaid Agreements

Prepaid agreements not-to-compete are amortized over the term of the respective agreements, generally ranging from one to ten years. Amortization expense was $0.6 million for each of the years ended December 31, 2021, 2022 and 2023.

Internal-use Software

Internal-use software is typically amortized on a straight-line basis over five years. Amortization expense was $0.2 million and $0.3 million for the years ended December 31, 2022 and 2023, respectively.

The aggregate amortization expense for our capitalized commissions, prepaid agreements and internal-use software as of December 31, 2023 is as follows (in thousands):


	Capitalized Commissions		Prepaid Agreements		Internal-use Software
Years ending December 31,
2024	$	843	$	424	$	337
2025	778		377		510
2026	711		262		501
2027	646		142		495
2028	562		78		354
Thereafter	1,138		52		225
Total amortization expense	$	4,678	$	1,335	$	2,422