Goodwill and Intangible Assets

12 Months Ended

Dec. 31, 2020

Goodwill And Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets

6. Goodwill and Intangible Assets

Goodwill and intangible assets at December 31, 2020 (Successor) were based on the purchase price allocation pursuant to the Transaction, which was based on a valuation performed to determine the fair value of the acquired assets as of the acquisition date.

The changes in the carrying amount of goodwill for the period from February 10, 2020 to December 31, 2020 (Successor), is summarized as follows:

Balance as of February 10, 2020	$	—
Addition – APW Acquisition		80,509
Goodwill as of December 31, 2020 (Successor)	$	80,509

Intangible assets subject to amortization consisted of the following:

	Successor			Predecessor
	December 31, 2020			December 31, 2019
In-place lease intangible asset
Gross carrying amount	$	7,092		$	5,073
Less accumulated amortization:		(1,212	)		(2,225	)
Intangible assets, net	$	5,880		$	2,848

Amortization expense was $1,163 for the period from February 10 to December 31, 2020 (Successor), $77 for the period from January 1 to February 9, 2020 (Predecessor) and $532 for the year ended December 31, 2019 (Predecessor).

As of December 31, 2020 (Successor), the intangible asset amortization expense to be recognized for each of the succeeding five years was as follows:

2021	$	1,087
2022		805
2023		671
2024		564
2025		466
Thereafter		2,287
	$	5,880