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Intangible and Other Assets
 12 Months Ended
Dec. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]  
Intangible and Other Assets

Note 6 – Intangible and Other Assets

 

The following table summarizes our intangible assets as of:

 

    December 31,     December 31,     Estimated
    2021     2020     Useful Life
Intangible assets subject to amortization (in thousands):                    
Tradenames and trademarks   $ 417     $ 417     2.5 - 8.0 years
Accreditations     75       85     5.0 years
Customer relationships     3,664       3,664     3.0 - 15.0 years
Patents     970       970     4.0 years
Non-compete agreements     121       121     5.0 years
      5,247       5,257      
Less accumulated amortization     3,154       2,795      
      2,093       2,462      
Tradenames/trademarks (not subject to amortization)     465       465      
      2,558       2,927      
Other assets     23       21      
Intangible and other assets:   $ 2,581     $ 2,948      

 

We reviewed our long-lived assets for indicators of impairment in 2021 and 2020 and concluded in each year that no impairments exist.

 

Amortization expense for each of the years ended December 31, 2021 and 2020 was approximately $0.4 million and $0.6 million, respectively.

 

 

Where Food Comes From, Inc.

Notes to the Consolidated Financial Statements

 

As of December 31, 2021, future scheduled amortization of intangible assets is as follows (in thousands):

 

         
Fiscal year ending December 31:  
       
2022 $ 354  
2023     317  
2024     305  
2025     260  
2026     223  
Thereafter     634  
Intangible and other assets, net  $ 2,093