Intangible Assets and Goodwill

9 Months Ended

Sep. 30, 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		-		(2,271	)		(2,271	)
Balances, September 30, 2023
Gross		1,323		54,577			55,900
Accumulated amortization		-		(46,539	)		(46,539	)
Net carrying amount	$	1,323	$	8,038		$	9,361
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		-		(3,318	)		(3,318	)
Balances, September 30, 2024
Gross		1,323		72,577			73,900
Accumulated amortization		-		(50,614	)		(50,614	)
Net carrying amount	$	1,323	$	21,963		$	23,286

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 (three months)	$	1,207
2025		4,840
2026		2,475
2027		2,261
2028		1,876
Thereafter		9,304
Total	$	21,963

STRAWBERRY FIELDS REIT, INC. and Subsidiaries

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS