XML 34 R16.htm IDEA: XBRL DOCUMENT
v3.23.4

INTANGIBLE ASSETS—NET | 12 Months Ended
--- | ---
Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract] |
INTANGIBLE ASSETS—NET | INTANGIBLE ASSETS—NET Intangible assets, net consisted of the following as of December 31, 2022 (Successor Period):
(In thousands) | Weighted Average Useful Lives (Years) |  | Gross Carrying Amount |  | Accumulated Amortization |  | Net Carrying Amount
Trademark and trade name | 14 |  | $ | 559,328 |  |  | $ | (17,840) |  |  | $ | 541,488 |
Customer relationships | 11 |  | 36,000 |  |  | (1,349) |  |  | 34,651 |
Supply agreement | 5 |  | 38,900 |  |  | (3,325) |  |  | 35,575 |
Formulations | 8 |  | 28,900 |  |  | (1,526) |  |  | 27,374 |
Patents | 20 |  | 80 |  |  | (3) |  |  | 77 |
Total |  |  | $ | 663,208 |  |  | $ | (24,043) |  |  | $ | 639,165 |
Intangible assets, net consisted of the following as of December 31, 2021 (Predecessor Period):
(In thousands) | Weighted Average Useful Lives (Years) |  | Gross Carrying Amount |  | Accumulated Amortization |  | Net Carrying Amount
Trademark and trade name | 10 |  | $ | 46,004 |  |  | $ | (17,842) |  |  | $ | 28,162 |
Customer relationships | 10 |  | 39,370 |  |  | (16,404) |  |  | 22,966 |
Supply agreement | 10 |  | 25,570 |  |  | (10,654) |  |  | 14,916 |
Formulations | 10 |  | 22,863 |  |  | (9,592) |  |  | 13,271 |
Patents | 20 |  | 270 |  |  | (11) |  |  | 259 |
Total |  |  | $ | 134,077 |  |  | $ | (54,503) |  |  | $ | 79,574 |
Amortization expense for the period from July 28 to December 31, 2022 (Successor Period), period from January 1, 2022 to July 27, 2022 (Predecessor Period), and the years ended December 31, 2021 and 2020 (Predecessor Period), was $24.0 million, $7.7 million, $13.5 million, and $13.3 million, respectively. Expected amortization for each of the years between 2023 through 2027, and thereafter are as follows: (In thousands)
Years ending December 31 |
2023 | $ | 56,675 |
2024 | 56,675 |
2025 | 56,675 |
2026 | 56,675 |
2027 | 53,350 |
Thereafter | 359,115 |
| $ | 639,165 |

X
- References No definition available. + Details
Name: | us-gaap_GoodwillAndIntangibleAssetsDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for all or part of the information related to intangible assets. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//350-30/tableOfContent + Details
Name: | us-gaap_IntangibleAssetsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration