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Goodwill and Other Intangibles

6 Months Ended

Jun. 30, 2024

Goodwill and Other Intangibles [Abstract]

9. Goodwill and Other Intangibles

Goodwill

The following table presents, on a consolidated basis, including both continuing and discontinued operations, the carrying amount of the Company’s goodwill and related impairment by segment:

	Six Months Ended June 30, 2024								Year Ended December 31, 2023
	Non-Standard Auto		Commercial			Total			Non-Standard Auto		Commercial			Total
Goodwill, original recorded value	$	2,628	$	6,756		$	9,384		$	2,628	$	6,756		$	9,384
Accumulated impairment losses at the beginning of the period		—		(6,756	)		(6,756	)		—		—			—
Goodwill, beginning of period		2,628		—			2,628			2,628		6,756			9,384
Impairment recognized during the period		—		—			—			—		(6,756	)		(6,756	)
Goodwill, end of period	$	2,628	$	—		$	2,628		$	2,628	$	—		$	2,628

Based on the qualitative analyses performed for the goodwill related to our Non-Standard Auto segment, we concluded that goodwill was not impaired as of June 30, 2024, or December 31, 2023.

During the fourth quarter of 2023, we performed a quantitative assessment of the goodwill related to the Westminster acquisition, which was allocated to our Commercial segment, and concluded that the goodwill was fully impaired as of December 31, 2023, resulting in a non-cash impairment charge of $6,756. See the Part II, Item 8, Note 10 “Goodwill and Other Intangibles” section of the 2023 Annual Report for additional information.

Other Intangible Assets

The following table presents on a consolidated basis, including both continuing and discontinued operations, the carrying amount of the Company’s other intangible assets:

June 30, 2024	Gross Carrying Amount		Accumulated Amortization		Net
Subject to amortization:
Trade names	$	248	$	248	$	—
Distribution network		—		—		—
Total subject to amortization		248		248		—
Not subject to amortization:
State insurance licenses		100		—		100
Total	$	348	$	248	$	100

December 31, 2023	Gross Carrying Amount		Accumulated Amortization		Net
Subject to amortization:
Trade names	$	748	$	448	$	300
Distribution network		6,700		1,489		5,211
Total subject to amortization		7,448		1,937		5,511
Not subject to amortization:
State insurance licenses		1,900		—		1,900
Total	$	9,348	$	1,937	$	7,411

The following table presents the current and prior year continuing and discontinued carrying amounts of the Company’s other intangible assets:

June 30, 2024	Gross Carrying Amount		Accumulated Amortization		Net
Subject to amortization:
Continuing operations	$	248	$	248	$	—
Discontinued operations		—		—		—
Total subject to amortization		248		248		—

Not subject to amortization
Continuing operations		100		—		100
Discontinued operations		—		—		—
Total property and equipment, net		348		248		100

December 31, 2023	Gross Carrying Amount		Accumulated Amortization		Net
Subject to amortization:
Continuing operations	$	248	$	248	$	—
Discontinued operations		7,200		1,689		5,511
Total subject to amortization		7,448		1,937		5,511

Not subject to amortization
Continuing operations		100		—		100
Discontinued operations		1,800		—		1,800
Total property and equipment, net		9,348		1,937		7,411

We determined during our reviews that other indefinite-lived intangible assets and finite-lived intangible assets were not impaired as of June 30, 2024, or December 31, 2023.

Amortization expense was $105 and $118 for the three months ended June 30, 2024 and 2023, respectively, and $211 and $236 for the six months ended June 30, 2024 and 2023, respectively. Amortization expense for continuing operations was $0 and $12 for the three months ended June 30, 2024 and 2023, respectively, and $0 and $25 for the six months ended June 30, 2024 and 2023, respectively.