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Goodwill and Other Intangible Assets | 3 Months Ended
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Mar. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Other Intangible Assets | 5. Goodwill and Other Intangible Assets The components of goodwill and other intangible assets were as follows:
March 31, 2024 (Unaudited) |  | Estimated Useful Life |  | Gross Carrying Amount |  |  | Accumulated Amortization |  |  | Net |
Finite lived intangible assets: |  |  |  |  |  |  |  |  |  |  |
Customer relationships |  | 5 years |  | $ | 39,250,000 |  |  | $ | 19,597,196 |  |  | $ | 19,652,804 |
Software |  | 7 years |  |  | 4,570,895 |  |  |  | 1,921,671 |  |  |  | 2,649,224 |
Trademarks |  | 7 years |  |  | 2,026,163 |  |  |  | 729,627 |  |  |  | 1,296,536 |
Non-compete agreements |  | 3 years |  |  | 2,250,000 |  |  |  | 1,779,445 |  |  |  | 470,555 |
Total finite lived intangible assets |  |  |  | $ | 48,097,058 |  |  | $ | 24,027,939 |  |  | $ | 24,069,119 |
December 31, 2023 |  | Estimated Useful Life |  | Gross Carrying Amount |  |  | Accumulated Amortization |  |  | Net |
Finite lived intangible assets: |  |  |  |  |  |  |  |  |  |  |
Customer relationships |  | 5 years |  | $ | 39,250,000 |  |  | $ | 17,636,463 |  |  | $ | 21,613,537 |
Software |  | 7 years |  |  | 4,230,291 |  |  |  | 1,819,287 |  |  |  | 2,411,004 |
Trademarks |  | 7 years |  |  | 2,026,163 |  |  |  | 657,331 |  |  |  | 1,368,832 |
Non-compete agreements |  | 3 years |  |  | 2,250,000 |  |  |  | 1,591,945 |  |  |  | 658,055 |
Total finite lived intangible assets |  |  |  | $ | 47,756,454 |  |  | $ | 21,705,026 |  |  | $ | 26,051,428 |
March 31, 2024 (Unaudited) and December 31, 2023 |  | Estimated Useful Life |  | Carrying Amount |
Indefinite lived intangible asset: |  |  |  |  |
Goodwill |  | Indefinite |  | $ | 85,828,238 |
We compute amortization using the straight-line method over the useful lives of the finite lived intangible assets. Amortization expense related to finite lived intangible assets was $2.3 million and $2.3 million for the three months ended March 31, 2024 and 2023, respectively. We have no indefinite-lived intangible assets other than goodwill. $70.8 million of the goodwill is not deductible for tax purposes, while $15.0 million of goodwill is deductible over its tax-basis life. We performed our annual impairment analysis for goodwill and other intangible assets in the third quarter of 2023 with no impairment recorded.

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 350 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//350/tableOfContent + Details
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