Intangible Assets and Goodwill

3 Months Ended

Mar. 31, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets and Goodwill

NOTE 5. Intangible Assets and Goodwill

Intangible assets consist of the following goodwill, Certificate of Need (“CON”) licenses and lease rights:

	Goodwill including CON Licenses		Lease Rights			Total
	(Amounts in $000’s)
Balances, December 31, 2022
Gross	$	1,323		54,577			55,900
Accumulated amortization		-		(44,268	)		(44,268	)
Net carrying amount		1,323		10,309			11,632
Amortization		-		(757	)		(757	)
Balances, March 31, 2023
Gross		1,323		54,577			55,900
Accumulated amortization		-		(45,025	)		(45,025	)
Net carrying amount	$	1,323		9,552			10,875
Balances, December 31, 2023
Gross	$	1,323		54,577			55,900
Accumulated amortization		-		(47,296	)		(47,296	)
Net carrying amount		1,323		7,281			8,604
Acquisition of lease rights		-		18,000			18,000
Amortization		-		(904	)		(904	)
Balances, March 31, 2024
Gross		1,323		72,577			73,900
Accumulated amortization		-		(48,200	)		(48,200	)
Net carrying amount	$	1,323		24,377			25,700

Estimated amortization expense for all lease rights for each of the future years ending December 31, is as follows:

	Amortization of Lease Rights
	(Amounts in $000’s)
2024 (nine months)		3,592
2025		4,789
2026		2,447
2027		2,222
2028		1,837
Thereafter		9,490
Total	$	24,377

STRAWBERRY FIELDS REIT, INC. and SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS