XML 26 R14.htm IDEA: XBRL DOCUMENT
v3.22.4

Intangible Assets | 12 Months Ended
--- | ---
Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract] |
INTANGIBLE ASSETS. | 7. INTANGIBLE ASSETS. Intangible assets, including goodwill, consisted of the following (in thousands):
|  | Useful |  |  | December 31, 2022 |  |  | December 31, 2021 |
|  | Life (Years) |  |  | Gross |  |  | Accumulated Amortization |  |  | Net Book Value |  |  | Gross |  |  | Accumulated Amortization |  |  | Net Book Value |
Non-Amortizing: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Goodwill |  |  |  |  |  | $ | 5,970 |  |  | $ | — |  |  | $ | 5,970 |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Kinergy tradename |  |  |  |  |  |  | 2,678 |  |  |  | — |  |  |  | 2,678 |  |  |  | 2,678 |  |  |  | — |  |  |  | 2,678 |
Amortizing: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Customer relationships |  |  | 12 |  |  |  | 6,556 |  |  |  | (527 | ) |  |  | 6,029 |  |  |  | — |  |  |  | — |  |  |  | — |
Eagle tradename |  |  | 10 |  |  |  | 420 |  |  |  | (40 | ) |  |  | 380 |  |  |  | — |  |  |  | — |  |  |  | — |
Total goodwill and intangible assets |  |  |  |  |  | $ | 15,624 |  |  | $ | (567 | ) |  | $ | 15,057 |  |  | $ | 2,678 |  |  | $ | — |  |  | $ | 2,678 |
Goodwill – The Company’s recorded goodwill of $5,970,000 in its Corporate and other segment resulted from the Company’s acquisition of Eagle Alcohol. See Note 2. Kinergy Tradename – The Company recorded tradename of $2,678,000 as part of the Company’s merger with Kinergy in 2006. The Company determined that the tradename has an indefinite life and therefore, rather than being amortized, will be tested annually for impairment. The Company did not record any impairment on its tradename for the years ended December 31, 2022, 2021 and 2020. Customer Relationships – The Company recorded customer relationships of $6,556,000 from the Company’s acquisition of Eagle Alcohol. See Note 2. The Company has established a useful life of twelve years for these customer relationships. Eagle Tradename – The Company recorded tradename of $420,000 from the Company’s acquisition of Eagle Alcohol. See Note 2. The Company has established a useful life of ten years for the tradename. Amortization expense associated with intangible assets totaled $567,000 for the year ended December 31, 2022. The weighted-average unamortized life of the customer relationships and tradename is 10.9 years. The expected amortization expense relating to amortizable intangible assets in each of the five years after December 31, 2022 are (in thousands):
Years Ended December 31, |  | Amount |
2023 |  | $ | 588 |
2024 |  |  | 588 |
2025 |  |  | 588 |
2026 |  |  | 588 |
2027 |  |  | 588 |
Thereafter |  |  | 3,469 |
Total |  | $ | 6,409 |

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 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
Name: | us-gaap_GoodwillAndIntangibleAssetsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration