Goodwill And Intangible Assets

3 Months Ended

Mar. 31, 2023

Goodwill And Intangible Assets [Abstract]

Note 8 – Goodwill and Intangible Assets

The table below summarizes goodwill by business segment as of March 31, 2023, and December 31, 2022.



(Dollars in thousands)	Cinema		Real Estate		Total
Balance at December 31, 2022	$	20,280	$	5,224	$	25,504
Foreign currency translation adjustment		(232)		—		(232)
Balance at March 31, 2023	$	20,048	$	5,224	$	25,272

Our Company is required to test goodwill and other intangible assets for impairment on an annual basis and, if current events or circumstances require, on an interim basis. Our next annual evaluation of goodwill and other intangible assets is scheduled during the fourth quarter of 2023. To test the impairment of goodwill, our Company compares the fair value of each reporting unit to its carrying amount, including the goodwill, to determine if there is potential goodwill impairment. A reporting unit is generally one level below the operating segment. As of March 31, 2023, we were not aware that any events indicating potential impairment of goodwill had occurred outside of those described at Note 3 – Impact of COVID-19 Pandemic and Liquidity.

The tables below summarize intangible assets other than goodwill, as of March 31, 2023, and December 31, 2022, respectively.



	As of March 31, 2023
(Dollars in thousands)	Beneficial ‎Leases		Trade ‎Name		Other ‎Intangible ‎Assets		Total
Gross carrying amount	$	12,191	$	9,058	$	4,892	$	26,141
Less: Accumulated amortization		(11,954)		(7,878)		(3,977)		(23,809)
Less: Impairments		—		—		(40)		(40)
Net intangible assets other than goodwill	$	237	$	1,180	$	875	$	2,292



	As of December 31, 2022
(Dollars in thousands)	Beneficial ‎Leases		Trade ‎Name		Other ‎Intangible ‎Assets		Total
Gross carrying amount	$	12,216	$	9,058	$	4,915	$	26,189
Less: Accumulated amortization		(11,964)		(7,838)		(3,956)		(23,758)
Less: Impairments		—		—		(40)		(40)
Net intangible assets other than goodwill	$	252	$	1,220	$	919	$	2,391

Beneficial leases obtained in business combinations where we are the landlord are amortized over the life of the relevant leases. Trade names are amortized based on the accelerated amortization method over their estimated useful life of 30 years, and other intangible assets are amortized over their estimated useful lives of up to 30 years (except for transferrable liquor licenses, which are indefinite-lived assets). The table below summarizes the amortization expense of intangible assets for the quarter ended March 31, 2023



	Three Months Ended
	March 31,
(Dollars in thousands)	2023		2022
Beneficial lease amortization	$	15	$	22
Other amortization		54		135
Total intangible assets amortization	$	69	$	157