v3.22.4
Goodwill and Intangible Assets
 12 Months Ended
Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Intangible Assets Goodwill and Intangible Assets
Goodwill and intangible assets as of December 31, 2022 and 2021 were recognized as part of the Hostess Business Combination and the Voortman and Cloverhill Business acquisitions.
Goodwill was $706.6 million for the years ended December 31, 2022 and 2021, respectively, and is recognized at the Snacking reportable segment. There were no changes to goodwill during the years ended December 31, 2022 and 2021.
Intangible assets consist of the following:
(In thousands)December 31,
2022		December 31,
2021
Intangible assets with indefinite lives (Trademarks and Trade Names)$1,538,631 $1,538,631 
Intangible assets with definite lives (Customer Relationships)526,813 526,813 
Less accumulated amortization (Customer Relationships)(144,564)(121,052)
Intangible assets, net$1,920,880 $1,944,392 
The Company recognized additional trade names and customer relationships intangible assets during the year ended December 31, 2020 related to the acquisition of Voortman. See Note 2. Business Combinations for additional details.
Amortization expense was $23.5 million, $23.5 million and $26.5 million for the years ended December 31, 2022, 2021 and 2020 respectively.
Future expected amortization expense is as follows:
(In thousands)
2023$23,512 
202423,512 
202522,752 
202622,752 
202722,752 
2028 and thereafter266,969