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Note 5 - Goodwill and Intangible Assets

12 Months Ended

Dec. 31, 2024

Notes to Financial Statements

Goodwill and Intangible Assets Disclosure [Text Block]

NOTE 5 — GOODWILL AND INTANGIBLE ASSETS

The Company's goodwill relates to the acquisition of its Land Experiences Segment subsidiaries, see Note 9—Acquisitions. The following is a rollforward of the Company’s goodwill:

(In thousands)		Land Experiences Segment
Balance as of December 31, 2021		$	42,017
Activity			-
Balance as of December 31, 2022			42,017
Activity			-
Balance as of December 31, 2023			42,017
Acquisitions (a)			16,957
Foreign exchange translation			57
Balance as of December 31, 2024		$	59,031

(a) Increase to goodwill relates to the 2024 acquisition of Thomson Group. For additional information, see Note 9—Acquisition. 

The Company’s intangible assets consist of finite lived assets related to the acquisition of its Land Experiences Segment subsidiaries and the value of its cupos operating rights. Total amortization expense for the years ended December 31, 2024, 2023 and 2022, was $2.1 million, $1.8 million and $2.0 million, respectively.

The carrying amounts and accumulated amortization of intangibles, net are as follows:

		As of December 31,
		2024																2023
(In thousands)		Gross Carrying Amount (a)				Accumulated Amortization				Net Carrying Amount				Weighted Average Useful Life Remaining (years)				Gross Carrying Amount				Accumulated Amortization				Net Carrying Amount
Tradenames		$	14,939			$	(2,911	)		$	12,028				12.1			$	7,069			$	(2,222	)		$	4,847
Customer Lists			6,907				(4,517	)			2,390				1.7				6,182				(3,209	)			2,973
Operating rights			6,529				(5,024	)			1,505				17.2				6,529				(4,937	)			1,592
Total intangibles, net		$	28,375			$	(12,452	)		$	15,923				11.0			$	19,780			$	(10,368	)		$	9,412

(a) Increase to the gross carrying amounts of intangibles relate to the 2024 acquisition of Thomson Group. For additional information, see Note 9—Acquisition. 

Future expected amortization expense related to these intangibles are as follows:

Year		Amount
		(In thousands)
2025		$	2,465
2026			1,708
2027			1,229
2028			1,229
2029			1,178
Thereafter			8,114
		$	15,923

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- Definition

The entire disclosure for goodwill and intangible assets.

+ 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

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