Intangible Assets

9 Months Ended

Sep. 30, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets

8. Intangible Assets

Intangible assets consisted of the following:

(Dollars in thousands)	September 30, 2023			December 31, 2022
Permits and licenses	$	25		$	25
Azuñia brand		4,517			4,492
Customer lists		2,895			2,895
Total intangible assets		7,437			7,412
Less accumulated amortization		(1,964	)		(1,654	)
Intangible assets, net	$	5,473		$	5,758

Eastside Distilling, Inc. and Subsidiaries

Notes to Consolidated Financial Statements

September 30, 2023

(Unaudited)

The customer list is being amortized over a seven-year life. Amortization expense totaled $0.3 million for both the nine months ended September 30, 2023 and 2022.

The permits and licenses, and Azuñia brand have all been determined to have an indefinite life and will not be amortized. The Company, on an annual basis, tests the indefinite life assets for impairment. If the carrying value of an indefinite life asset is found to be impaired, then the Company will record an impairment loss and reduce the carrying value of the asset.