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Intangible and Other Non-Current Assets | 12 Months Ended
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Dec. 31, 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):
| December 31, 2024 |  | December 31, 2023
Tradenames | $ | 28,116 |  |  | $ | 28,862 |
Internally developed software, net of accumulated amortization of $764 and $444, respectively | 5,601 |  |  | 2,422 |
Capitalized commissions on preneed contracts, net of accumulated amortization of $4,653 and $3,788, respectively | 4,991 |  |  | 4,678 |
Prepaid agreements not-to-compete, net of accumulated amortization of $3,543 and $3,158, respectively | 923 |  |  | 1,335 |
Non-current prepaid and other intangibles, net of accumulated amortization of $109 and $37, respectively | 1,011 |  |  | 380 |
Intangible and other non-current assets, net including HFS | 40,642 |  |  | 37,677 |
Less: Held for Sale | (215) |  |  | — |
Intangible and other non-current assets, net | $ | 40,427 |  |  | $ | 37,677 |
Tradenames During the year ended December 31, 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. 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 2024 and 2023 annual qualitative impairment assessments, we determined that there were factors that would indicate the need to perform additional quantitative impairment tests for certain funeral home businesses. As a result of these additional quantitative impairment tests, we recorded a $0.6 million and a $0.2 million impairment to the tradenames of certain funeral homes during the years ended December 31, 2024 and 2023, respectively, 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. Internally Developed Software Internally developed software is typically amortized on a straight-line basis over five years. Amortization expense was $0.3 million for each of the years ended December 31, 2024 and 2023, and $0.2 million for the year ended December 31, 2022. Capitalized Commissions Amortization expense was $0.9 million, $0.8 million and $0.7 million for the years ended December 31, 2024, 2023 and 2022, respectively. Prepaid Agreements Not-to-Compete Prepaid agreements not-to-compete are amortized over the term of the respective agreements, generally ranging from one to ten years. Amortization expense was $0.5 million for the year ended December 31, 2024, and $0.6 million for each of the years ended December 31, 2023 and 2022. Non-current Prepaid and Other Intangibles Non-current prepaid agreements are related to software licenses that have been prepaid for multiple years. These agreements are amortized on a straight-line basis over the term of the respective agreements, generally ranging from two to three years. Other intangible assets relate to intellectual property and are amortized on a straight-line basis, typically over three years. Amortization expense was $0.1 million and $37 thousand for the years ended December 31, 2024 and 2023, respectively. The aggregate amortization expense for our capitalized commissions, prepaid not-to-compete agreements, internal-use software and non-current prepaid and other agreements as of December 31, 2024 is as follows (in thousands):
|  | Capitalized Commissions |  | Prepaid Agreements Not-to-compete |  | Internally Developed Software |  | Non-current Prepaid and Other Intangibles
Years ending December 31, |  |  |  |  |  |  |  |
2025 |  | $ | 915 |  |  | $ | 389 |  |  | $ | 1,021 |  |  | $ | 125 |
2026 |  | 849 |  |  | 262 |  |  | 1,209 |  |  | 462 |
2027 |  | 784 |  |  | 142 |  |  | 1,207 |  |  | 424 |
2028 |  | 701 |  |  | 78 |  |  | 1,009 |  |  | — |
2029 |  | 591 |  |  | 38 |  |  | 954 |  |  | — |
Thereafter |  | 1,151 |  |  | 14 |  |  | 201 |  |  | — |
Total amortization expense |  | $ | 4,991 |  |  | $ | 923 |  |  | $ | 5,601 |  |  | $ | 1,011 |

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