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GOODWILL AND LONG-LIVED ASSETS
 9 Months Ended
Sep. 30, 2023
GOODWILL AND LONG-LIVED ASSETS [Abstract]  
GOODWILL AND LONG-LIVED ASSETS
5.
GOODWILL AND LONG-LIVED ASSETS

The Company reviews the carrying value of its long-lived assets and identifiable intangibles annually, or more frequently if necessary for possible impairment whenever events or changes in circumstances indicate that the carrying amounts may not be recoverable.  If the Company determines that an asset’s carrying value is impaired, it will record a write-down of the carrying value of the asset and charge the impairment as an operating expense in the period in which the determination is made.  For other long-lived assets, including ROU lease assets, the Company evaluates assets for recoverability when there is an indication of potential impairment. If the undiscounted cash flows from a group of assets being evaluated is less than the carrying value of that group of assets, the fair value of the asset group is determined and the carrying value of the asset group is written down to fair value.
When we perform the quantitative impairment test for long-lived assets, we examine estimated future cash flows using Level 3 inputs. These cash flows are evaluated by using weighted probability techniques as well as comparisons of past performance against projections. Assets may also be evaluated by identifying independent market values.
For the three months ended September 30, 2023 and 2022, there were no impairments of goodwill or long-lived assets.  During the nine months ended September 30, 2023, the Company impaired $3.8 million of goodwill and an additional $0.4 million of long-lived assets relating to the sale of the Company’s Nashville, Tennessee property, which occurred on June 8, 2023 (see Part I, Item 1. “Notes to Condensed Consolidated Financial Statements”, Note 13 - Property Purchase and Sale Agreements).  The result of the sale created a change in the trajectory of the fair value of the Nashville, Tennessee operations and consequently triggered the impairments.  For the nine months ended September 30, 2022, there were no impairments of goodwill or long-lived assets.

The carrying amount of goodwill at September 30, 2023 and 2022 is as follows:

 
Gross
Goodwill
Balance
    
Accumulated
Impairment
Losses
    
Net
Goodwill
Balance
  
Balance as of January 1, 2023
  
$
117,176
    
$
(102,640
)
  
$
14,536
  
Adjustments
    
-
      
(3,794
)
    
(3,794
)
Balance as of September 30, 2023
  
$
117,176
    
$
(106,434
)
  
$
10,742
  


 
Gross
Goodwill
Balance
    
Accumulated
Impairment
Losses
    
Net
Goodwill
Balance
  
Balance as of January 1, 2022
  
$
117,176
    
$
(102,640
)
  
$
14,536
  
Adjustments
    
-
      
-
      
-
  
Balance as of September 30, 2022
  
$
117,176
    
$
(102,640
)
  
$
14,536