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Note 16 - Intangibles | 12 Months Ended
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Dec. 31, 2024
Notes to Financial Statements |
Intangible Assets Disclosure [Text Block] |
16. | INTANGIBLES
The following tables summarize the changes in the Company’s intangible assets as of December 31, 2023 and December 31, 2024 (in thousands):
|  | January 1, 2023 |  |  | Year-Ended December 31, 2023 |  |  | December 31, 2023 |  |  | December 31, 2023 |
|  | Gross Carrying Amount |  |  | Additions |  |  | Impairments (1) |  |  | Accumulated Amortization |  |  | Net Book Value |
Trademarks |  | $ | 62,202 |  |  |  | — |  |  | $ | (39,728 | ) |  | $ | (15,335 | ) |  | $ | 7,140 |
Non-competition agreement |  |  | 11 |  |  |  | — |  |  |  | — |  |  |  | (11 | ) |  |  | — |
Transition services agreement |  |  | 12 |  |  |  | — |  |  |  | — |  |  |  | (12 | ) |  |  | — |
Customer relations |  |  | 5,700 |  |  |  | — |  |  |  | — |  |  |  | (1,520 | ) |  |  | 4,180 |
Other |  |  | 700 |  |  |  | — |  |  |  | — |  |  |  | (700 | ) |  |  | — |
Total intangibles |  | $ | 68,625 |  |  | $ | — |  |  | $ | (39,728 | ) |  | $ | (17,578 | ) |  | $ | 11,320 |
|  | January 1, 2024 |  |  | Year Ended December 31, 2024 |  |  | December 31, 2024 |  |  | December 31, 2024 |
|  | Gross Carrying Amount |  |  | Additions |  |  | Impairments |  |  | Accumulated Amortization |  |  | Net Book Value |
Trademarks(2) |  | $ | 21,285 |  |  | $ | — |  |  | $ | — |  |  | $ | (15,166 | ) |  | $ | 6,119 |
Non-competition agreement |  |  | 11 |  |  |  | — |  |  |  | — |  |  |  | (11 | ) |  |  | — |
Transition services agreement |  |  | 12 |  |  |  | — |  |  |  | — |  |  |  | (12 | ) |  |  | — |
Customer relations(2) |  |  | 5,700 |  |  |  | — |  |  |  | — |  |  |  | (2,090 | ) |  |  | 3,610 |
Software |  |  | — |  |  |  | 38 |  |  |  | — |  |  |  | (10 | ) |  |  | 28 |
Other |  |  | 700 |  |  |  | — |  |  |  | — |  |  |  | (700 | ) |  |  | — |
Total intangibles(2) |  | $ | 27,708 |  |  | $ | 38 |  |  | $ | — |  |  | $ | (17,989 | ) |  | $ | 9,757 |
| (1) | See Note 2, Summary of Significant Accounting Policies for more information on intangibles impairments which occurred during the year ended December 31, 2023.
| (2) | As of December 31, 2024, the weighted-average remaining amortization period for Trademarks and Customer Relationships was 6.25 years and 6.33 years, respectively. The weighted-average remaining amortization period for total intangibles was 6.28 years.
The Company recognized $3.7 million and $1.6 million in intangibles amortization expense during the year ended December 31, 2023 and December 31, 2024. The following table sets forth the estimated aggregate amortization of our in-place intangible assets and favorable intangible assets for the next five years and thereafter (amounts in thousands):
2025 |  | $ | 1,564 |
2026 |  |  | 1,564 |
2027 |  |  | 1,554 |
2028 |  |  | 1,551 |
2029 |  |  | 1,551 |
Thereafter |  |  | 1,973 |
Total |  | $ | 9,757 |

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