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Goodwill and Intangible Assets

3 Months Ended

Mar. 31, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets

Note 5 – Goodwill and Intangible Assets

Goodwill

Goodwill consisted of the following:

Schedule of goodwill
		Total
Balance at December 31, 2023
Goodwill		$	12,948
Accumulated impairment losses			(1,244	)
		$	11,704

Balance at March 31, 2024
Goodwill		$	12,948
Accumulated impairment losses			(1,244	)
		$	11,704

Intangible Assets

Other intangible assets, net consisted of the following:

Schedule of finite-lived intangible assets
		March 31, 2024												December 31, 2023
		Gross								Net				Gross								Net
		Carrying				Accumulated				Carrying				Carrying				Accumulated				Carrying
		Amount				Amortization				Amount				Amount				Amortization				Amount
Recipes		$	44			$	(44	)		$	–			$	44			$	(44	)		$	–
Customer lists and other customer related intangibles			4,529				(4,529	)			–				4,529				(4,529	)			–
Customer relationships			3,385				(1,412	)			1,973				3,385				(1,372	)			2,013
Brand names			7,948				(3,158	)			4,790				7,948				(3,063	)			4,885
Formula			438				(438	)			–				438				(438	)			–
Total intangible assets, net		$	16,344			$	(9,581	)		$	6,763			$	16,344			$	(9,446	)		$	6,898

Estimated amortization expense on intangible assets for the next five years is as follows:

Schedule of estimated amortization expense on intangible assets
Year		Amortization
Nine months ended December 31, 2024		$	405
2024		$	540
2025		$	540
2026		$	540
2027		$	540

The weighted-average remaining amortization expense period for the customer relationship and brand name intangible assets is 12.3 and 12.6 years, respectively, as of March 31, 2024. The weighted-average remaining amortization expense period for total intangible assets is 12.5 years as of March 31, 2024.

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- References

No definition available.

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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

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