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Intangible Assets
6 Months Ended
Jun. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]  
Intangible Assets

NOTE 4 INTANGIBLE ASSETS

Intangible assets consists of the following:

June 30, 2022

 

Gross
Carrying Amount

 

 

Accumulated
Amortization

 

 

Net
Carrying Amount

 

 

Weighted
Average Useful
Life (Years)

 

Regional trade names

 

$

35,314

 

 

$

(13,103

)

 

$

22,211

 

 

 

5.0

 

LifeStance trade names

 

 

235,500

 

 

 

(22,324

)

 

 

213,176

 

 

 

22.5

 

Non-competition agreements

 

 

93,536

 

 

 

(46,835

)

 

 

46,701

 

 

 

4.2

 

Total intangible assets

 

$

364,350

 

 

$

(82,262

)

 

$

282,088

 

 

 

 

 

December 31, 2021

 

Gross
Carrying Amount

 

 

Accumulated
Amortization

 

 

Net
Carrying Amount

 

 

Weighted
Average Useful
Life (Years)

 

Regional trade names

 

$

34,417

 

 

$

(9,633

)

 

$

24,784

 

 

 

5.0

 

LifeStance trade names

 

 

235,500

 

 

 

(17,090

)

 

 

218,410

 

 

 

22.5

 

Non-competition agreements

 

 

92,750

 

 

 

(35,589

)

 

 

57,161

 

 

 

4.2

 

Total intangible assets

 

$

362,667

 

 

$

(62,312

)

 

$

300,355

 

 

 

 

Gross carrying amount is based on the fair value of the intangible assets determined at acquisitions. Total intangible asset amortization expense consists of the following:

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

 

2022

 

 

2021

 

 

2022

 

 

2021

 

Amortization expense

 

$

9,993

 

 

$

9,704

 

 

$

19,950

 

 

$

19,323