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Note 10 - Identified Intangible Assets

9 Months Ended

Sep. 30, 2023

Intangible Assets Disclosure [Text Block]

10. IDENTIFIED INTANGIBLE ASSETS

A schedule of identified intangible assets is as follows:

	Gross		Accumulated		Carrying
($ in thousands)	Amount		Amortization		Amount
September 30, 2023
Trademarks
Wholesale ⁽¹⁾	$	69,439		-	$	69,439
Retail		9,220		-		9,220
Patents		895	$	841		54
Customer relationships⁽²⁾		41,659		7,051		34,608
Total Intangibles	$	121,213	$	7,892	$	113,321

⁽¹⁾ Servus trademarks were reduced from approximately $2.5 million to zero at March 30, 2023 as a result of the sale of the Servus brand (see Note 4).

⁽²⁾ Customer relationships relating to the Servus brand of approximately $4.3 million and related amortization of approximately $0.6 million was reduced to zero at March 30, 2023 as a result of the sale of the Servus brand (see Note 4).

	Gross		Accumulated		Carrying
($ in thousands)	Amount		Amortization		Amount
December 31, 2022
Trademarks
Wholesale ⁽¹⁾	$	71,979		-	$	71,979
Retail		9,220		-		9,220
Patents		895	$	826		69
Customer relationships⁽²⁾		46,006		5,492		40,514
Total Intangibles	$	128,100	$	6,318	$	121,782

⁽¹⁾ NEOS trademarks were reduced from approximately $0.6 million to zero at September 30, 2022 as a result of the sale of the NEOS brand (see Note 5)

⁽²⁾ Customer relationships relating to the NEOS brand of approximately $0.9 million and related amortization of approximately $0.1 million was reduced to zero at September 30, 2022 as a result of the sale of the NEOS brand (see Note 5).

	Gross		Accumulated		Carrying
($ in thousands)	Amount		Amortization		Amount
September 30, 2022
Trademarks
Wholesale	$	71,981		-	$	71,981
Retail		9,220		-		9,220
Patents		895	$	821		74
Customer relationships		46,006		4,729		41,277
Total Intangibles	$	128,102	$	5,550	$	122,552

⁽¹⁾ NEOS trademarks were reduced from approximately $0.6 million to zero at September 30, 2022 as a result of the sale of the NEOS brand (see Note 5).

⁽²⁾ Customer relationships relating to the NEOS brand of approximately $0.9 million and related amortization of approximately $0.1 million was reduced to zero at September 30, 2022 as a result of the sale of the NEOS brand (see Note 5).

The weighted average life for our patents is 6.7 years.

A schedule of approximate amortization expense related to finite-lived intangible assets for the three and nine months ended September 30, 2023 and 2022 is as follows:

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
($ in thousands)	2023		2022		2023		2022
Amortization expense	$	697	$	788	$	2,175	$	2,362

A schedule of approximate expected remaining amortization expense related to finite-lived intangible assets for the years ending December 31 is as follows:

	Amortization
($ in thousands)	Expense
2023	$	697
2024		2,785
2025		2,781
2026		2,778
2027		2,776
2028		2,771
2029+		20,074