Annual report pursuant to Section 13 and 15(d)

Other Intangible Assets, Net

v3.22.4
Other Intangible Assets, Net
12 Months Ended
Dec. 31, 2022
Intangible Assets, Net (Excluding Goodwill) [Abstract]  
Other Intangible Assets, Net

5. Other Intangible Assets, Net

Other intangibles assets, net consisted of the following as of the periods presented:

 

 

December 31, 2022

 

 

December 31, 2021

 

 

Gross Carrying Amount

 

 

Accumulated Amortization

 

 

Gross Carrying Amount

 

 

Accumulated Amortization

 

Trade names and Trademarks

$

107,200

 

 

$

200

 

 

$

107,200

 

 

$

 

CPC Unity System

 

42,900

 

 

 

35,750

 

 

 

42,900

 

 

 

31,591

 

Customer relationships

 

11,800

 

 

 

8,240

 

 

 

11,800

 

 

 

7,584

 

Covenants not to compete

 

12,590

 

 

 

6,685

 

 

 

11,075

 

 

 

3,980

 

Other intangible assets, net

$

174,490

 

 

$

50,875

 

 

$

172,975

 

 

$

43,155

 

 

The weighted average amortization period for CPC Unity System, Customer relationships, and Covenants not to compete are 10.0 years, 7.0 years and 6.3 years, respectively.

Amortization expense for finite-lived intangible assets was $7,874, $5,619 and $6,943 for the years ended December 31, 2022, 2021 and 2020, respectively.

As of December 31, 2022, estimated future amortization expense was as follows:

 

Fiscal Year Ending:

 

 

 

2023

 

$

6,548

 

2024

 

 

4,927

 

2025

 

 

1,699

 

2026

 

 

1,457

 

2027

 

 

613

 

Thereafter

 

 

1,371

 

Total estimated future amortization expense

 

$

16,615