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Goodwill And Intangible Assets | 12 Months Ended
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Dec. 31, 2021
Goodwill And Intangible Assets [Abstract] |
Goodwill And Intangible Assets | NOTE 8 – GOODWILL AND INTANGIBLE ASSETS The table below summarizes goodwill by business segment: (Dollars in thousands) Cinema Real Estate TotalBalance at January 1, 2020 $ 21,224 $ 5,224 $ 26,448Change in goodwill due to purchase of business 120 — 120Foreign currency translation adjustment 1,548 — 1,548Balance at December 31, 2020 $ 22,892 $ 5,224 $ 28,116Foreign currency translation adjustment (1,358) — (1,358)Balance at December 31, 2021 $ 21,534 $ 5,224 $ 26,758 The Company is required to test goodwill and other intangible assets for impairment on an annual basis and, if current events or circumstances require, on an interim basis. To test the impairment of goodwill, the Company compares the fair value of each reporting unit to its carrying amount, including the goodwill, to determine if there is potential goodwill impairment. A reporting unit is generally one level below the operating segment. The most recent annual assessment occurred in the fourth quarter of 2021. The assessment results, as described at Note 3 – Impact of COVID-19 Pandemic and Liquidity, indicated that there is no impairment to our goodwill as of December 31, 2021. The tables below summarize intangible assets other than goodwill: December 31, 2021(Dollars in thousands) Beneficial‎Leases Trade‎Name Other‎Intangible‎Assets TotalGross carrying amount $ 12,335 $ 9,058 $ 4,996 $ 26,389Less: accumulated amortization (12,002) (7,660) (3,452) (23,114)Less: impairment charges — — (17) (17)Net intangible assets other than goodwill $ 333 $ 1,398 $ 1,527 $ 3,258 December 31, 2020(Dollars in thousands) Beneficial‎Leases Trade‎Name Other‎Intangible‎Assets TotalGross carrying amount $ 12,451 $ 9,058 $ 4,764 $ 26,273Less: accumulated amortization (10,375) (7,377) (4,533) (22,285)Less: impairment charges — — (17) (17)Net intangible assets other than goodwill $ 2,076 $ 1,681 $ 214 $ 3,971 Beneficial leases obtained from business combinations relating to our arrangements as lessee were amortized over the life of the lease up to 30 years until January 1, 2019. Under ASC 842 they are now incorporated into the relevant right-of-use asset. The remaining balance of beneficial leases relates to our operations as lessor. Trade names are amortized using an accelerated amortization method over an estimated useful life of 30 years, and other intangible assets over their estimated useful life of up to 30 years (except for transferrable liquor licenses, which are indefinite-lived assets, with a balance of $757,000 and $490,000 as of December 31, 2021 and 2020). For the years ended December 31, 2021, 2020, and 2019, our amortization expense was $0.7 million, $0.9 million, and $0.7 million, respectively. As of December 31, 2021, the estimated amortization expense for our amortizable intangibles, in the five succeeding years and thereafter is as follows: (Dollars in thousands) Estimated‎Future‎Amortization‎Expense2022 $ 8242023 4052024 2252025 1402026 127Thereafter 780Total future amortization expense $ 2,501

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- 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 http://asc.fasb.org/topic&trid=2144416 + Details
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