Note 16 - Intangibles

12 Months Ended

Dec. 31, 2024

Notes to Financial Statements

Intangible Assets Disclosure [Text Block]

16. INTANGIBLES

The following tables summarize the changes in the Company’s intangible assets as of December 31, 2023 and December 31, 2024 (in thousands):

	January 1, 2023		Year-Ended December 31, 2023					December 31, 2023			December 31, 2023
	Gross Carrying Amount		Additions		Impairments (1)			Accumulated Amortization			Net Book Value
Trademarks	$	62,202		—	$	(39,728	)	$	(15,335	)	$	7,140
Non-competition agreement		11		—		—			(11	)		—
Transition services agreement		12		—		—			(12	)		—
Customer relations		5,700		—		—			(1,520	)		4,180
Other		700		—		—			(700	)		—
Total intangibles	$	68,625	$	—	$	(39,728	)	$	(17,578	)	$	11,320

	January 1, 2024		Year Ended December 31, 2024				December 31, 2024			December 31, 2024
	Gross Carrying Amount		Additions		Impairments		Accumulated Amortization			Net Book Value
Trademarks(2)	$	21,285	$	—	$	—	$	(15,166	)	$	6,119
Non-competition agreement		11		—		—		(11	)		—
Transition services agreement		12		—		—		(12	)		—
Customer relations(2)		5,700		—		—		(2,090	)		3,610
Software		—		38		—		(10	)		28
Other		700		—		—		(700	)		—
Total intangibles(2)	$	27,708	$	38	$	—	$	(17,989	)	$	9,757

(1) See Note 2, Summary of Significant Accounting Policies for more information on intangibles impairments which occurred during the year ended December 31, 2023.

(2) As of December 31, 2024, the weighted-average remaining amortization period for Trademarks and Customer Relationships was 6.25 years and 6.33 years, respectively. The weighted-average remaining amortization period for total intangibles was 6.28 years.

The Company recognized $3.7 million and $1.6 million in intangibles amortization expense during the year ended December 31, 2023 and December 31, 2024.

The following table sets forth the estimated aggregate amortization of our in-place intangible assets and favorable intangible assets for the next five years and thereafter (amounts in thousands):

2025	$	1,564
2026		1,564
2027		1,554
2028		1,551
2029		1,551
Thereafter		1,973
Total	$	9,757