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Intangible Assets and Goodwill (Tables) | 9 Months Ended
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Sep. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract] |
Schedule of Finite-Lived Intangible Assets | The table below summarizes our intangible assets, net (in thousands). The table excludes $0.4 million and $0.5 million of other intangible assets, net included in assets held for sale in the condensed consolidated balance sheets as of September 30, 2023 and December 31, 2022, respectively. Refer to Note 3, Assets and Liabilities Held for Sale and Discontinued Operations.
| September 30, 2023 |  | December 31, 2022
Digital assets | $ | 5 |  |  | $ | 327 |
Total amortizable intangible assets, net | 12,495 |  |  | 19,796 |
Total indefinite-lived intangible assets | 150,829 |  |  | 216,014 |
Total | $ | 163,329 |  |  | $ | 236,137 |
Our amortizable intangible assets, excluding assets classified as held for sale in the condensed consolidated balance sheets, consisted of the following (in thousands):
| Weighted-Average Life (Years) |  | Gross Carrying Amount |  | Accumulated Amortization |  | Accumulated Impairments* |  | Net Carrying Amount
September 30, 2023 |  |  |  |  |  |  |  |  |
Trade names | 12 |  | $ | 65,409 |  |  | $ | (7,659) |  |  | $ | (45,854) |  |  | $ | 11,896 |
Distribution agreements | 15 |  | 3,720 |  |  | (3,121) |  |  | — |  |  | 599 |
Total |  |  | $ | 69,129 |  |  | $ | (10,780) |  |  | $ | (45,854) |  |  | $ | 12,495 |
*Includes trade name impairment charges of $5.1 million during the nine months ended September 30, 2023. The table below excludes TLA’s customer lists and Yandy’s trade names as these were included in assets held for sale in the condensed consolidated balance sheets as of December 31, 2022.
| Weighted- Average Life (Years) |  | Gross Carrying Amount |  | Accumulated Amortization |  | Accumulated Impairments |  | Net Carrying Amount
December 31, 2022 |  |  |  |  |  |  |  |  |
Trade names | 12 |  | $ | 74,625 |  |  | $ | (6,881) |  |  | $ | (48,733) |  |  | $ | 19,011 |
Distribution agreements | 15 |  | 3,720 |  |  | (2,935) |  |  | — |  |  | 785 |
Developed technology | 3 |  | 2,300 |  |  | (2,300) |  |  | — |  |  | — |
Total |  |  | $ | 80,645 |  |  | $ | (12,116) |  |  | $ | (48,733) |  |  | $ | 19,796 |
Schedule of Indefinite-Lived Intangible Assets | The table below summarizes our intangible assets, net (in thousands). The table excludes $0.4 million and $0.5 million of other intangible assets, net included in assets held for sale in the condensed consolidated balance sheets as of September 30, 2023 and December 31, 2022, respectively. Refer to Note 3, Assets and Liabilities Held for Sale and Discontinued Operations.
| September 30, 2023 |  | December 31, 2022
Digital assets | $ | 5 |  |  | $ | 327 |
Total amortizable intangible assets, net | 12,495 |  |  | 19,796 |
Total indefinite-lived intangible assets | 150,829 |  |  | 216,014 |
Total | $ | 163,329 |  |  | $ | 236,137 |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense | As of September 30, 2023, expected amortization expense relating to definite-lived intangible assets for each of the next five years and thereafter is as follows (in thousands):
Remainder of 2023 | $ | 352 |
2024 | 1,409 |
2025 | 1,409 |
2026 | 1,202 |
2027 | 1,161 |
Thereafter | 6,962 |
Total | $ | 12,495 |
Schedule of Goodwill | Changes in the carrying value of goodwill for the nine months ended September 30, 2023 were as follows (in thousands):
| Gross Goodwill |  | Impairments |  | Net Goodwill
Balance at December 31, 2022 | $ | 257,545 |  |  | $ | (134,328) |  |  | $ | 123,217 |
Foreign currency translation adjustment in relation to Honey Birdette | (2,837) |  |  |  |  | (2,837) |
Impairments* |  |  | (66,660) |  |  | (66,660) |
Balance at September 30, 2023 | $ | 254,708 |  |  | $ | (200,988) |  |  | $ | 53,720 |
*Goodwill impairment charges recorded during the nine months ended September 30, 2023 were $67.5 million. The difference from the amount shown in the table is due to foreign currency translation. Changes in the recorded carrying value of goodwill for the nine months ended September 30, 2023 by reportable segment were as follows:
| Direct-to-Consumer |  | Licensing |  | Digital Subscriptions and Content
Balance at December 31, 2022 | $ | 90,117 |  |  | $ | — |  |  | $ | 33,100 |
Foreign currency translation and other adjustments | (2,837) |  |  | — |  |  | — |
Impairments* | (66,660) |  |  | — |  |  | — |
Balance at September 30, 2023 | $ | 20,620 |  |  | $ | — |  |  | $ | 33,100 |
*Goodwill impairment charges recorded during the nine months ended September 30, 2023 were $67.5 million. The difference from the amount shown in the table is due to foreign currency translation.

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