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GOODWILL AND INTANGIBLE ASSETS
 12 Months Ended
Dec. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
GOODWILL AND INTANGIBLE ASSETS GOODWILL AND INTANGIBLE ASSETS
The Company’s intangible assets consist of the following (in thousands):
Year Ended December 31,
20252024
GrossImpairmentAccumulated
Amortization		NetGrossAccumulated
Amortization		Net
Goodwill(1)
$33,237 $(33,237)$— $— $33,237 $— $33,237 
Finite -lived intangible assets:
Licenses15,847 — (13,021)2,826 15,847 (12,566)3,281 
Trade names
104,617 — (35,376)69,241 104,459 (28,619)75,840 
Customer relationships
143,159 — (83,347)59,812 143,157 (73,505)69,652 
Other
5,894 — (4,851)1,043 5,868 (4,351)1,517 
Total$302,754 $(33,237)$(136,595)$132,922 $302,568 $(119,041)$183,527 
(1)The net value at December 31, 2025 reflect a reduction of $113.0 million impairment charges within U.S. segment and $11.9 million impairment charges within International segment. The gross and net value at December 31, 2024 reflect a reduction of $79.8 million impairment charges within U.S. segment and $11.9 million impairment charges within International segment.
A summary of the activities related to the Company’s intangible assets for the years ended December 31, 2025, 2024 and 2023 consists of the following (in thousands):
Intangible
Assets		GoodwillTotal  Intangible
Assets and
Goodwill
Goodwill and Intangible Assets, December 31, 2022$180,650 $33,237 $213,887 
Foreign currency translation adjustment81 — 81 
Amortization(14,835)— (14,835)
Goodwill and Intangible Assets, December 31, 2023165,896 33,237 199,133 
Foreign currency translation adjustment(17)— (17)
Amortization(15,589)— (15,589)
Goodwill and Intangible Assets, December 31, 2024150,290 33,237 183,527 
Foreign currency translation adjustment80 — 80 
Amortization(17,448)— (17,448)
Impairment of goodwill— (33,237)(33,237)
Goodwill and Intangible Assets, December 31, 2025$132,922 $— $132,922 
The weighted-average amortization periods for the Company’s finite-lived intangible assets as of December 31, 2025 are as follows:
Years
Trade names14
Licenses33
Customer relationships14
Other9
Estimated amortization expense for each of the five succeeding fiscal years is as follows (in thousands):
Year ending December 31,
2026$17,078 
202716,374 
202815,915 
202915,468 
203015,106 
Goodwill impairment test
The Company reviews goodwill impairment annually as of October 1st or when events or changes in circumstances indicate the carrying value of these assets might exceed their current fair values. For goodwill, impairment testing is based upon the best information available using a combination of the discounted cash flow method, a form of the income approach, and the guideline public company method, a form of the market approach.
The significant assumptions used under the income approach, or discounted cash flow method, are projected net sales, projected earnings before interest, tax, depreciation and amortization (“EBITDA”) and the cost of capital. Projected net sales and projected EBITDA were determined to be significant assumptions because they are the primary drivers of the projected cash flows in the discounted cash flow fair value model. Cost of capital was also determined to be a significant assumption as it is the discount rate used to calculate the current fair value of those projected cash flows.
Determining fair value using a market approach considers multiples of financial metrics based on both acquisitions and trading multiples of a selected peer group of companies. From the comparable companies, a representative market multiple is determined which is applied to financial metrics to estimate the fair value of a reporting unit.
Although the Company believes the assumptions and estimates made are reasonable and appropriate, different assumptions and estimates could materially impact its reported financial results. In addition, sustained declines in the Company’s stock price and related market capitalization could impact key assumptions in the overall estimated fair values of its reporting units and could result in non-cash impairment charges that could be material to the Company’s consolidated balance sheet or results of operations. Should the carrying value of a reporting unit be in excess of the estimated fair value of that reporting unit, an impairment charge will be recorded to reduce the reporting unit to fair value.
International Reporting Unit
The carrying value of the goodwill for the International reporting unit was zero as of December 31, 2025 and 2024.
U.S. Reporting Unit
The carrying value of the goodwill for the U.S. reporting unit was zero as of December 31, 2025.
In the second quarter of 2025, the Company observed a sustained decline in the market valuation of the Company's common stock. Additionally, the Company's near term forecasts for the U.S. reporting unit were revised downward due to changes in retailer and consumer buying patterns, which were impacted by the recent changes in the U.S. tariff policies. Based on these factors the Company concluded that impairment indicators for the U.S. reporting unit were present as of June 30, 2025.
The company performed an interim impairment test of the goodwill in the U.S. reporting unit as of June 30, 2025 by comparing the fair value with its carrying value. The analysis was performed by using a discounted cash flow and market multiple method. Accordingly, this fair value measurement is classified as Level 3 since it is based primarily on unobservable inputs. Based upon the analysis performed, the Company's U.S. reporting unit goodwill was fully impaired and a $33.2 million non-cash goodwill impairment charge was recognized. The goodwill impairment charge was the result of the decline in the Company's near term forecasts that were revised downward due to the changes in retailer and consumer buying patterns and an increase to the company-specific risk premium, which is an input to the cost of capital assumption, to address the potential risks in the long-term forecast which remain uncertain at this time.