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Goodwill and intangible assets | 9 Months Ended
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Sep. 30, 2023
Goodwill and intangible assets |
Goodwill and intangible assets | Note 6 - Goodwill and intangible assets Goodwill represents the excess of the purchase price over the fair value of the net assets acquired in business combinations accounted for under the purchase method of accounting. There were no goodwill impairment losses recognized for the nine-month period ended September 30, 2023, and year ended December 31, 2022. Based on the results of the impairment assessments of goodwill and intangible assets performed, management concluded that the fair value of the Company’s goodwill exceeds the carrying value and that there are no impairment indicators related to intangible assets. At September 30, 2023 and December 31, 2022 the Company had $47.8 million of goodwill. The Company’s other intangible assets consist of the following: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | September 30, 2023 | ​ | December 31, 2022
​ | ​ | ​ | ​ | (unaudited) | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Amortization | ​ | Gross | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Gross | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Period |  | Carrying |  | Accumulated | ​ | ​ | ​ |  | Carrying |  | Accumulated | ​ | ​ | ​
(in thousands) |  | (in years) |  | Amount |  | Amortization |  | Net |  | Amount |  | Amortization |  | Net
Intangible assets with determinable lives | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Covenant not to compete |  | 6 – 10 | ​ |  | 870 | ​ |  | 776 | ​ |  | 94 | ​ | ​ | 870 | ​ | ​ | 710 | ​ | ​ | 160
Customer relationships |  | 3 – 12 | ​ |  | 31,560 | ​ |  | 16,486 | ​ |  | 15,074 | ​ | ​ | 31,560 | ​ | ​ | 14,491 | ​ | ​ | 17,069
Above market leases |  | 13 | ​ |  | 567 | ​ |  | 266 | ​ |  | 301 | ​ | ​ | 567 | ​ | ​ | 232 | ​ | ​ | 335
Total identifiable intangible assets | ​ | ​ | ​ | $ | 32,997 | ​ | $ | 17,528 | ​ | $ | 15,469 | ​ | $ | 32,997 | ​ | $ | 15,433 | ​ | $ | 17,564
​ Amortization expense for the nine months ended September 30, 2023 and 2022 was $2.1 million for both periods. Intangible assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset or asset group may not be recoverable.

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 350 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//350/tableOfContent + Details
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