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INTANGIBLE ASSETS AND GOODWILL
 6 Months Ended
Jun. 30, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
INTANGIBLE ASSETS AND GOODWILL
Intangible assets are recorded at cost less accumulated amortization and impairment losses, if any. Intangible assets acquired in a business combination are measured at fair value as of the acquisition date. Amortization of definite life intangible assets is provided on a straight-line basis over their estimated useful lives. The estimated useful lives, residual values, and amortization methods for intangible assets are reviewed by the Company at each year end, and any changes in estimates are accounted for prospectively.
As of June 30, 2025, intangible assets consisted of the following:
LicensesTradenamesTechnologyTotal
Cost
Balance as of January 1, 2025$922,358 $45,108 $5,546 $973,012 
Balance as of June 30, 2025$922,358 $45,108 $5,546 $973,012 
Accumulated Amortization
Balance as of January 1, 2025218,578 16,858 3,571 239,007 
Amortization30,778 2,255 457 33,490 
Balance as of June 30, 2025$249,356 $19,113 $4,028 $272,497 
Net Book Value
Balance as of January 1, 2025703,780 28,250 1,975 734,005 
Balance as of June 30, 2025$673,002 $25,995 $1,518 $700,515 
The following table outlines the estimated annual amortization expense related to intangible assets as of June 30, 2025:
Year Ending December 31:Estimated Amortization
2025 (Remaining)$33,489 
202666,332 
202766,273 
202866,259 
202966,257 
Thereafter401,905 
Total$700,515 
The changes in the carrying amount of goodwill, by reportable segment, for the six months ended June 30, 2025 were as follows:
January 1, 2025ImpairmentAdjustments to purchase price allocationAcquisitionsJune 30, 2025
Cultivation$48,597 $— $293 $— $48,890 
Retail197,633 — 1,077 — 198,710 
Total$246,230 $— $1,370 $— $247,600