Note 5 - Goodwill and Intangible Assets

12 Months Ended

Dec. 31, 2023

Notes to Financial Statements

Goodwill and Intangible Assets Disclosure [Text Block]

NOTE 5 — GOODWILL AND INTANGIBLE ASSETS

The Company's goodwill relates to the acquisition of its Land Experiences Segment subsidiaries, see Note 9—Acquisitions. The following is a rollforward of the Company’s goodwill:

(In thousands)	Land Experiences Segment
Balance as of December 31, 2020	$	22,105
Acquisitions		19,912
Balance as of December 31, 2021		42,017
Activity		-
Balance as of December 31, 2022		42,017
Activity		-
Balance as of December 31, 2023	$	42,017

The Company’s intangible assets consist of finite lived assets related to the acquisition of its Land Experiences Segment subsidiaries and the value of its cupos operating rights. Total amortization expense for the years ended December 31, 2023, 2022 and 2021, was $1.8 million, $2.0 million and $1.9 million, respectively.

The carrying amounts and accumulated amortization of intangibles, net are as follows:

	As of December 31,
	2023									2022
(In thousands)	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount		Weighted Average Useful Life Remaining (years)		Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount
Tradenames	$	7,069	$	(2,222	)	$	4,847		10.3	$	7,069	$	(1,751	)	$	5,318
Customer Lists		6,182		(3,209	)		2,973		2.4		6,182		(1,961	)		4,221
Operating rights		6,529		(4,937	)		1,592		18.2		6,529		(4,849	)		1,680
Total intangibles, net	$	19,780	$	(10,368	)	$	9,412		9.1	$	19,780	$	(8,561	)	$	11,219

Future expected amortization expense related to these intangibles are as follows:

Year	Amount
	(In thousands)
2024	$	1,795
2025		1,795
2026		1,059
2027		559
2028		559
Thereafter		3,645
	$	9,412