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Intangible Assets and Goodwill (Tables)
9 Months Ended
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$$327 
Total amortizable intangible assets, net12,495 19,796 
Total indefinite-lived intangible assets150,829 216,014 
Total$163,329 $236,137 
Our amortizable intangible assets, excluding assets classified as held for sale in the condensed consolidated balance sheets, consisted of the following (in thousands):
Weighted-Average Life (Years)Gross Carrying AmountAccumulated AmortizationAccumulated Impairments*Net Carrying Amount
September 30, 2023
Trade names12$65,409 $(7,659)$(45,854)$11,896 
Distribution agreements153,720 (3,121)— 599 
Total$69,129 $(10,780)$(45,854)$12,495 
*Includes trade name impairment charges of $5.1 million during the nine months ended September 30, 2023.
The table below excludes TLA’s customer lists and Yandy’s trade names as these were included in assets held for sale in the condensed consolidated balance sheets as of December 31, 2022.
Weighted- Average Life (Years)Gross Carrying AmountAccumulated AmortizationAccumulated ImpairmentsNet Carrying Amount
December 31, 2022
Trade names12$74,625 $(6,881)$(48,733)$19,011 
Distribution agreements153,720 (2,935)— 785 
Developed technology32,300 (2,300)— — 
Total$80,645 $(12,116)$(48,733)$19,796 
Schedule of Indefinite-Lived Intangible Assets
The table below summarizes our intangible assets, net (in thousands). The table excludes $0.4 million and $0.5 million of other intangible assets, net included in assets held for sale in the condensed consolidated balance sheets as of September 30, 2023 and December 31, 2022, respectively. Refer to Note 3, Assets and Liabilities Held for Sale and Discontinued Operations.
 September 30,
2023
December 31,
2022
Digital assets$$327 
Total amortizable intangible assets, net12,495 19,796 
Total indefinite-lived intangible assets150,829 216,014 
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 
20241,409 
20251,409 
20261,202 
20271,161 
Thereafter6,962 
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 GoodwillImpairmentsNet 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-ConsumerLicensingDigital 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.