XML 26 R14.htm IDEA: XBRL DOCUMENT v3.24.1.1.u2

Goodwill and Other Intangible Assets

3 Months Ended

Mar. 31, 2024

Goodwill and Other Intangible Assets

Goodwill and Other Intangible Assets

8. Goodwill and Other Intangible Assets.

The following table summarizes the changes in goodwill:

Balance as of January 1, 2024		$	-
Goodwill resulting from the Bloomia Acquisition			10,122,000
Balance as of March 31, 2024		$	10,122,000

Other intangible assets and related amortization are as follows at March 31, 2024:

		Cross Carrying Amount				Useful Life (Years)				Accumulated Amortization				Net Carrying Amount
Tradename		$	8,570,000			Indefinite				$	-			$	8,570,000
Customer relationships			18,300,000				12				158,000				18,142,000
		$	26,870,000							$	158,000			$	26,712,000

For the three months ended March 31, 2024 amortization of intangible assets expensed to operations was $158,000. The weighted average remaining amortization period for intangible assets as of March 31, 2024 approximately 11.9 years.

Remaining estimated aggregate annual amortization expense is as follows:

Remainder of 2024		$	1,144,000
2025			1,525,000
2026			1,525,000
2027			1,525,000
2028			1,525,000
Thereafter			10,898,000
Total		$	18,142,000

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

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

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