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OTHER ASSETS

12 Months Ended

Dec. 31, 2024

9. OTHER ASSETS

Other assets included the following amounts at December 31, 2024 and 2023:


	2024		2023

	(Dollars in thousands)
Cash surrender value of life insurance	$	21,306	$	20,568
Amortizable intangible assets, net (See Note 8)		273		506
Investment in real estate		1,705		1,909
Other		976		1,291
Total other assets	$	24,260	$	24,274

We have life insurance policies on five current and former executives. Upon death of the insured executives, the approximate benefit we would receive is $22.5 million in aggregate as of December 31, 2024.

On May 1, 2013, we purchased a 50% interest in a building in Montreal, Canada for approximately $3.2 million. The remaining 50% interest is owned by a related party. The building, which is classified as an investment in real estate in the above table, serves as our Canadian office and distribution center. The purchase was accounted for as an equity-method investment under ASC 323, Investments – Equity Method and Joint Ventures, and continues to be accounted for under the equity method of accounting. Rent and occupancy costs paid by the Company to the joint venture totaled $0.7 million in both 2024 and 2023. Distributions received by the Company from the joint venture totaling $0.3 million and $0.4 million, in 2024 and 2023, respectively. There were nominal receivable balances due to the Company from the joint venture at both December 31, 2024 and 2023.