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Goodwill and Intangible Assets | 6 Months Ended
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Jun. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Intangible Assets | Goodwill and Intangible Assets Definite-Lived Intangible Assets. The Company has a definite-lived intangible asset which was acquired as a result of the Merger. The distributor relationships have a carrying value of $38,813, net of accumulated amortization of $2,587. The distributor relationships have a useful life of 20 years. The amortization expense for the quarter and year to date ended June 30, 2022 was $517 and $1,035, respectively, and the amortization expense for the quarter and year to date ended June 30, 2021 was $518. As of June 30, 2022, the expected future amortization expense related to definite-lived intangible assets are as follows:
Remainder of 2022 | $ | 1,035 |
2023 | 2,070 |
2024 | 2,070 |
2025 | 2,070 |
2026 | 2,070 |
Thereafter | 29,498 |
Total | $ | 38,813 |
Goodwill and Indefinite-Lived Intangible Assets. The Company records goodwill and indefinite-lived intangible assets in connection with various acquisitions of businesses and allocates the goodwill and indefinite-lived intangible assets to its respective reporting units. Changes in carrying amount of goodwill by business segment were as follows:
| Distilling Solutions |  | Branded Spirits |  | Ingredient Solutions |  | Total
Balance, December 31, 2021 | $ | — |  |  | $ | 226,294 |  |  | $ | — |  |  | $ | 226,294 |
Acquisitions | — |  |  | — |  |  | — |  |  | — |
Balance, June 30, 2022 | $ | — |  |  | $ | 226,294 |  |  | $ | — |  |  | $ | 226,294 |
Changes in carrying amount of trade name intangible assets by business segment were as follows:
| Distilling Solutions |  | Branded Spirits |  | Ingredient Solutions |  | Total
Balance, December 31, 2021 | $ | — |  |  | $ | 178,990 |  |  | $ | — |  |  | $ | 178,990 |
Acquisitions | — |  |  | — |  |  | — |  |  | — |
Balance, June 30, 2022 | $ | — |  |  | $ | 178,990 |  |  | $ | — |  |  | $ | 178,990 |

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