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Goodwill and Intangible Assets (Tables)
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Finite-Lived Intangible Assets [Line Items]    
Schedule of Goodwill
The following is a summary of the carrying amount of goodwill by reporting unit as of December 31, 2022 and 2021:
Wholesale
(in thousands)FootwearAccessories/ApparelDirect-to-ConsumerNet Carrying Amount
Balance at January 1, 2021$91,097 $62,688 $14,480 $168,265 
Translation(1,031)— 761 (270)
Balance at December 31, 202190,066 62,688 15,241 167,995 
Translation107 — (17)90 
Balance at December 31, 2022$90,173 $62,688 $15,224 $168,085 
  
Schedule of Indentifiable Intangible Assets
As of December 31, 2022
(in thousands)Estimated Lives
Cost Basis(1)
Accumulated Amortization
Impairment and other (2)
Net Carrying Amount
Trade names
1–10 years
$18,695 $(16,075)$(2,620)$— 
Customer relationships
10-20 years
38,680 (25,059)(1,574)12,047 
57,375 (41,134)(4,194)12,047 
Re-acquired rightindefinite35,200 — (9,432)25,768 
Trademarksindefinite63,283 — 94 63,377 
$155,858 $(41,134)$(13,532)$101,192 
(1) During the year ended December 31, 2021, the Company purchased the trademark for Dolce Vita® Handbags for $2,000 and the cash consideration was paid in 2022.
(2) Includes the effect of foreign currency translation related primarily to the movements of the Canadian dollar and Mexican peso in relation to the U.S. dollar.
As of December 31, 2021
(in thousands)Estimated Lives
Cost Basis(1)
Accumulated Amortization
Impairment and other (2)(3)
Net Carrying Amount
Trade names
1–10 years
$18,695 $(9,025)$(2,620)$7,050 
Customer relationships
10-20 years
38,680 (23,164)(1,491)14,025 
57,375 (32,189)(4,111)21,075 
Re-acquired rightindefinite35,200 — (7,708)27,492 
Trademarksindefinite63,283 — 243 63,526 
$155,858 $(32,189)$(11,576)$112,093 
(1) During the year ended December 31, 2021, the Company purchased the trademark for Dolce Vita® Handbags for $2,000 and the cash consideration was paid in 2022.
(2) Impairment charges of $2,620 in 2021 were recorded related to the Company's BB Dakota® trademark.
(3) Includes the effect of foreign currency translation related primarily to the movements of the Canadian dollar and Mexican peso in relation to the U.S. dollar.

The Company evaluates its goodwill and indefinite-lived intangible assets for indicators of impairment at least annually in the third quarter of each year and whenever events or changes in circumstances indicate that their carrying amounts may not be recoverable. A qualitative assessment of goodwill and indefinite-lived intangible assets was performed as of July 1, 2022 and 2021. In conducting the qualitative impairment assessment for goodwill and indefinite-lived intangibles, the Company concluded that it is more likely than not that the fair values of its reporting units exceeded their carrying values and the fair values of its indefinite-lived intangibles exceeded their respective carrying values. Therefore, in 2022 and 2021, as a result of the annual test, no impairment charges were recorded for goodwill and intangibles.
During the fourth quarter of 2021, certain decisions were made by the Company that resulted in the change in useful life of the BB Dakota trademark from an indefinite to a finite life. As a result, the BB Dakota trademark was assessed for impairment. The estimated fair value of this trademark was determined using an excess earnings method, incorporating the use of projected financial information and a discount rate which are developed using market participant based assumptions. As a result of this assessment, the BB Dakota trademark was written down from the carrying value of $9,670 to its fair value of $7,050, resulting in a pre-tax non-cash impairment charge of $2,620. This charge was recorded in impairment of intangibles in
the Company’s Consolidated Statements of Income/(Loss) and recognized in the Wholesale Accessories/Apparel segment. The fair value of $7,050 was amortized over its remaining useful life of one year, and was fully amortized in 2022.
As a result of the COVID-19 pandemic and decline in the macroeconomic environment, during the twelve months ended December 31, 2020, the Company’s Cejon, Report, GREATS and Jocelyn trademarks were written down from an aggregate carrying value of $57,198 to their fair values of $12,925, resulting in a pre-tax non-cash impairment charge of $44,273. These charges were recorded in impairment of intangibles in the Company’s Consolidated Statements of Income/(Loss) and recognized in three segments: $27,472 related to Wholesale Accessories/Apparel, $16,345 related to Wholesale Footwear and $456 related to the Direct-to-Consumer segments, respectively. The estimated fair values of these trademarks were determined using an excess earnings method. This method utilizes the present value of the earnings attributable to the intangible asset after providing for the proportion of the earnings that attribute to returns for contributory assets.
During the year ended December 31, 2021 the Company sold one of its internally developed trademarks for a gain of $8,000, which was recorded in operating expenses in the Company's Consolidated Statements of Income/(Loss).
Schedule of Intangible Assets, Future Amortization Expense The estimated future amortization expense for intangibles as of December 31, 2022 is as follows:
(in thousands)
2023$1,679 
20241,679 
20251,679 
20261,679 
20271,452 
Thereafter3,879 
Total$12,047