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Investment in Associated Entity (Tables)
 12 Months Ended
Dec. 31, 2023
Disclosure of associates [abstract]  
Disclosure of changes in carrying amount of associated entity
The following table summarizes the changes in the carrying amount of the Company's investment in SLM California:
For the year ended
December 31,
 2023 2022 
Opening Balance$58,189 $34,781 
Capital Investment3,517 25,742 
Company's share of net income of associated entity4,134 2,890 
Distributions(7,013)(5,224)
Ending Balance$58,827 $58,189 
Disclosure of summarized financial information for investment in associated entity
Summarized financial information for the Company's investment in SLM California and reflecting adjustments made by the Company, including adjustments made at the time of acquisition is as follows:
For the year ended
December 31,
2023 2022 
Royalty Revenue$26,024 $18,887 
Net income10,338 7,660 
The Company's ownership %40.0 37.7 
Company's share of net income of SLM California$4,134 $2,890 
Note 6 - Investment in Associated Entity (continued)
Income generated from the Company’s investment in SLM California is included in equity income from an investment in an associated entity. During the year ended December 31, 2023, the Company’s share of the royalty revenue in SLM California totaled $10,407 (2022 – $7,120).
For the year ended
December 31,
 2023 2022 
Current assets$11,252 $9,187 
Non-current assets- - 
Total liabilities (6,709)(5,298)
Net assets 4,543 3,889 
The Company's ownership %40.0 37.7 
Acquisition fair value and other adjustments57,010 56,722 
Carrying amount of investment in associated entity$58,827 $58,189