Intangible Assets and Goodwill

9 Months Ended

Sep. 30, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets and Goodwill

7. Intangible Assets and Goodwill

Intangible assets and goodwill at September 30, 2020 and December 31, 2019 consist of the following:

(Dollars in thousands)

	September 30, 2020			December 31, 2019
Permits and licenses	$	25		$	25
Azuñia brand		11,945			11,945
Customer lists		2,896			3,247
Goodwill		28			28
Total intangible assets and goodwill		14,894			15,245
Less accumulated amortization		(724	)		(542	)
Intangible assets and goodwill - net	$	14,170			14,703

Amortization expense totaled $0.4 million and $0.5 million for the nine months ended September 30, 2020 and September 30, 2019, respectively. The permits and licenses, Azuñia brand, and goodwill have all been determined to have indefinite life and will not be amortized. The customer lists are being amortized over a seven-year life. In the third quarter of 2020 it was determined that the customer list associated with the MotherLode, LLC acquisition no longer had value and was written off. The net value of the MotherLode, LLC customer list at the time of the write down was $176,971.