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Intangible and Other Non-Current Assets | 9 Months Ended
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Sep. 30, 2024
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract] |
Intangible and Other Non-Current Assets | INTANGIBLE AND OTHER NON-CURRENT ASSETS Intangible and other non-current assets are as follows (in thousands):
| September 30, 2024 |  | December 31, 2023
Tradenames | $ | 28,116 |  |  | $ | 28,862 |
Capitalized commissions on preneed contracts, net of accumulated amortization of $4,422 and $3,788, respectively | 4,957 |  |  | 4,678 |
Internal-use software, net of accumulated amortization of $694 and $444, respectively | 4,785 |  |  | 2,422 |
Prepaid agreements not-to-compete, net of accumulated amortization of $3,427 and $3,158, respectively | 1,037 |  |  | 1,335 |
Other | 280 |  |  | 380 |
Intangible and other non-current assets, net | $ | 39,175 |  |  | $ | 37,677 |
Tradenames Our tradenames have indefinite lives and therefore are not amortized. During the nine months ended September 30, 2024, two of the funeral homes that we sold had a carrying value of tradenames of $0.2 million, which was included in the loss on sale and recorded in Net loss on divestitures, disposals and impairment charges on our Consolidated Statements of Operations. As a result of our 2024 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 a $0.6 million impairment to the tradename of one funeral home, during the three and nine months ended September 30, 2024, as the carrying amount of this tradename exceeded its fair value. For our 2023 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 three and nine months ended September 30, 2023, as the carrying amount of these tradenames exceeded their fair value. 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 We capitalize sales commissions and other direct selling costs related to preneed cemetery merchandise and services and preneed funeral trust contracts as these costs are incremental and recoverable costs of obtaining a contract with a customer. Our capitalized commissions on preneed contracts are amortized on a straight-line basis over the average maturity period of ten years for our preneed funeral trust contracts and eight years for our preneed cemetery merchandise and services contracts. Amortization expense was $0.2 million for both the three months ended September 30, 2024, and 2023, and $0.7 million and $0.6 million for the nine months ended September 30, 2024 and 2023, respectively. Internal-use Software Internal-use software is amortized on a straight-line basis typically over three to five years. Amortization expense was $0.1 million for both the three months ended September 30, 2024 and 2023, and $0.3 million and $0.2 million for the nine months ended September 30, 2024 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 $0.1 million for both the three months ended September 30, 2024, and 2023 and $0.4 million for both the nine months ended September 30, 2024 and 2023. The aggregate amortization expense for our capitalized commissions, internal-use software and prepaid agreements as of September 30, 2024 is as follows (in thousands):
| Capitalized Commissions |  | Internal-use Software |  | Prepaid Agreements
Years ending December 31, |  |  |  |  |
Remainder of 2024 | $ | 429 |  |  | $ | 76 |  |  | $ | 115 |
2025 | 833 |  |  | 1,022 |  |  | 390 |
2026 | 779 |  |  | 1,013 |  |  | 262 |
2027 | 720 |  |  | 1,007 |  |  | 142 |
2028 | 644 |  |  | 867 |  |  | 78 |
Thereafter | 1,552 |  |  | 800 |  |  | 50 |
Total amortization expense | $ | 4,957 |  |  | $ | 4,785 |  |  | $ | 1,037 |

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