XML 46 R33.htm IDEA: XBRL DOCUMENT v3.22.0.1

Other Intangibles (Tables)

12 Months Ended

Dec. 31, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Summary of Other Intangibles Acquired

Other intangibles as of December 31, 2021 are comprised of the following:

		Asset				Accumulated amortization				Net asset				Amortization period (years)
Advertiser relationships		$	1,464,000			$	(454,731	)		$	1,009,269				11
Franchise rights			25,149,300				(5,072,849	)			20,076,451				10
			26,613,300				(5,527,580	)			21,085,720
Brands			1,582,663				—				1,582,663
Other intangibles with indefinite lives			28,824				—				28,824
		$	28,224,787			$	(5,527,580	)		$	22,697,207

Other intangibles as of December 31, 2020 are comprised of the following:

		Asset				Accumulated amortization				Net asset				Amortization period (years)
Advertiser relationships		$	1,721,600			$	(568,282	)		$	1,153,318				6-11
Franchise rights			25,149,300				(2,557,921	)			22,591,379				10
Sponsorship base			1,164,600				(661,592	)			503,008				2
			28,035,500				(3,787,795	)			24,247,705
Brands			1,582,663				—				1,582,663
Other intangibles with indefinite lives			28,824				—				28,824
		$	29,646,987			$	(3,787,795	)		$	25,859,192

Summary of Estimated Future Amortization Expense Related to Intangible Assets

The Company recorded amortization expense of $3.5 million and $3.2 million for the years ended December 31, 2020 and 2021, respectively. Estimated future amortization expense related to intangible assets subject to amortization for the next five years and thereafter is as follows:

2022		$	2,648,020
2023			2,648,020
2024			2,648,020
2025			2,648,020
2026			2,648,020
Thereafter			7,845,620
Total		$	21,085,720

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

Tabular disclosure of assets, excluding financial assets and goodwill, lacking physical substance with a finite life, by either major class or business segment.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 30
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=66006027&loc=d3e16323-109275

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 30
-Section 50
-Paragraph 1
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=66006027&loc=d3e16265-109275

+ Details

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

X

- Definition

Tabular disclosure of the amount of amortization expense expected to be recorded in succeeding fiscal years for finite-lived intangible assets.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 30
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=66006027&loc=d3e16323-109275

+ Details

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