INTANGIBLE ASSETS AND GOODWILL

3 Months Ended

Mar. 31, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

INTANGIBLE ASSETS AND GOODWILL

INTANGIBLE ASSETS AND GOODWILL

Intangible Assets

(in thousands)	March 31, 2022		December 31, 2021
Finite-lived intangible assets
Licenses and permits	$	55,281	$	55,281
In-place leases	19,963		19,963
Trade names	380		380
	75,624		75,624
Accumulated amortization:
Licenses and permits	(6,836)		(5,415)
In-place leases	(11,107)		(10,558)
Trade names	(380)		(380)
	(18,323)		(16,353)
Total intangible assets, net	$	57,301	$	59,271

Amortization expense was $1,970 and $1,685 during the three months ended March 31, 2022 and 2021, respectively. Total amortization expense capitalized to inventory was $408 and $261 during three months ended March 31, 2022 and 2021, respectively. At March 31, 2022 and December 31, 2021, $702 and $502, respectively, of amortization expense remained capitalized as part of inventory.

No impairment indicators were noted during the three months ended March 31, 2022 or 2021 and, as such, we did not record any impairment charges during either period.

Goodwill

(in thousands)
Balance, December 31, 2021	$	42,967
Adjustments to purchase price allocation(1)	51
Balance, March 31, 2022	$	43,018

(1)During the three months ended March 31, 2022, we recorded measurement period purchase accounting adjustments related to one of our 2021 acquisitions. See Note 4, “Acquisitions,” for additional information.