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GOODWILL AND OTHER INTANGIBLE ASSETS | 12 Months Ended
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Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract] |
GOODWILL AND OTHER INTANGIBLE ASSETS | 9. GOODWILL AND OTHER INTANGIBLE ASSETS In connection with the establishment of reporting segments for each reporting period, the Company allocated goodwill between reporting units using a relative fair value allocation approach. Goodwill on the balance sheet resulted from the acquisition of wholly owned subsidiaries, the Tria Group and Maymouna Food Group, in 2015 and the acquisitions completed in 2021. The Company performed the annual impairment assessment as of December 31, 2022 and December 31, 2021, which did not result in impairment losses. In connection with the change in reportable segments beginning in the fourth quarter of 2021, the Company recasted its previously reported goodwill balances as of December 31, 2021 and 2020 on a relative fair value basis. Changes in the carrying amount of goodwill allocated to its reporting units for the year ended December 31, 2022, and 2021 are as follows: SCHEDULE OF GOODWILL
|  | Soft |  |  | Durum |  |  | Couscous |  |  |  |
|  | Soft |  |  | Durum |  |  | Couscous |  |  |  |
|  | Wheat |  |  | Wheat |  |  | and Pasta |  |  | Total |
|  | (in thousands) |
Balance at December 31, 2020 |  | $ | 31,058 |  |  | $ | 7,641 |  |  | $ | 9,373 |  |  | $ | 48,072 |
Business combinations |  |  | 5,607 |  |  |  | - |  |  |  | - |  |  |  | 5,607 |
Foreign currency exchange adjustments |  |  | (1,471 | ) |  |  | (286 | ) |  |  | (351 | ) |  |  | (2,108 | )
Balance at December 31, 2021 |  | $ | 35,194 |  |  | $ | 7,355 |  |  | $ | 9,022 |  |  | $ | 51,571 |
Beginning balance |  | $ | 35,194 |  |  | $ | 7,355 |  |  | $ | 9,022 |  |  | $ | 51,571 |
Foreign currency exchange adjustments |  |  | (3,784 | ) |  |  | (848 | ) |  |  | (1,041 | ) |  |  | (5,673 | )
Balance at December 31, 2022 |  | $ | 31,410 |  |  | $ | 6,507 |  |  | $ | 7,981 |  |  | $ | 45,898 |
Ending balance |  | $ | 31,410 |  |  | $ | 6,507 |  |  | $ | 7,981 |  |  | $ | 45,898 |
Changes in the carrying amount of intangible assets for the year ended December 31, 2022, and 2021 are as follows: SCHEDULE OF INTANGIBLE ASSETS
|  | names |  |  | relationships |  |  | intangibles |  |  | Assets |
|  | Trade |  |  | Customer |  |  | Other |  |  | Intangible |
|  | names |  |  | relationships |  |  | intangibles |  |  | Assets |
|  | (in thousands) |
Balance at December 31, 2020 |  | $ | - |  |  | $ | - |  |  | $ | 363 |  |  | $ | 363 |
Acquisitions |  |  | 1,057 |  |  |  | 2,213 |  |  |  | 645 |  |  |  | 3,915 |
Amortization |  |  | - |  |  |  | (64 | ) |  |  | (47 | ) |  |  | (111 | )
Foreign currency exchange adjustments |  |  | (46 | ) |  |  | (108 | ) |  |  | (38 | ) |  |  | (192 | )
Balance at December 31, 2021 |  | $ | 1,011 |  |  | $ | 2,041 |  |  | $ | 923 |  |  | $ | 3,975 |
Beginning balance |  | $ | 1,011 |  |  | $ | 2,041 |  |  | $ | 923 |  |  | $ | 3,975 |
Acquisitions |  |  | - |  |  |  | - |  |  |  | 262 |  |  |  | 262 |
Amortization |  |  | - |  |  |  | (90 | ) |  |  | (53 | ) |  |  | (143 | )
Foreign currency exchange adjustments |  |  | (84 | ) |  |  | (155 | ) |  |  | (132 | ) |  |  | (371 | )
Balance at December 31, 2022 |  | $ | 927 |  |  | $ | 1,796 |  |  | $ | 1,000 |  |  | $ | 3,723 |
Ending balance |  | $ | 927 |  |  | $ | 1,796 |  |  | $ | 1,000 |  |  | $ | 3,723 |
As of December 31, 2022, the weighted-average remaining amortization period for intangibles other than goodwill is 11 years and future intangible amortization is expected to total the following: SCHEDULE OF FUTURE INTANGIBLE AMORTIZATION
|  | (in thousands) |
2023 |  | $ | 226 |
2024 |  |  | 226 |
2025 |  |  | 226 |
2026 |  |  | 226 |
2027 |  |  | 226 |
Thereafter |  |  | 1,666 |
Total amortization |  | $ | 2,796 |

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -URI https://asc.fasb.org/topic&trid=2144416 + Details
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