Quarterly report pursuant to Section 13 or 15(d)

Amortizable Intangible Assets

v3.23.2
Amortizable Intangible Assets
 6 Months Ended
Jun. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]  
Amortizable Intangible Assets
NOTE 9. AMORTIZABLE INTANGIBLE ASSETS
The following tables provide a summary of our significant classes of amortizable intangible assets:

 
  
As of June 30, 2023
 
 
  
 
 
  
Accumulated
 
  
 
 
 
  
Cost
 
  
Amortization
 
  
Net
 
 
  
 
 
  
 
 
  
 
 
 
  
(Dollars in thousands)
 
Customer lists and contracts
  
$
24,186
 
  
$
(23,424
)
 
  
$
762
 
Domain and brand names
  
 
20,696
 
  
 
(19,871
) 
  
 
825
 
Favorable and assigned leases
  
 
1,479
 
  
 
(1,479
) 
  
 
—
  
 
Subscriber base and lists
  
 
10,416
 
  
 
(8,820
) 
  
 
1,596
 
Author relationships
  
 
3,070
 
  
 
(2,821
) 
  
 
249
 
Non-compete
agreements
  
 
3,653
 
  
 
(2,269
) 
  
 
1,384
 
Other amortizable intangible assets
  
 
1,411
 
  
 
(1,391
) 
  
 
20
 
    
 
 
     
 
 
     
 
 
  
 
  
$
64,911
 
  
$
(60,075
)
 
  
$
4,836
 
    
 
 
     
 
 
     
 
 
  
 
 
  
As of December 31, 2022
 
 
  
 
 
  
Accumulated
 
  
 
 
 
  
Cost
 
  
Amortization
 
  
Net
 
 
  
 
 
  
 
 
  
 
 
 
  
(Dollars in thousands)
 
Customer lists and contracts
  
$
24,186
 
  
$
(23,006
) 
  
$
1,180
 
Domain and brand names
  
 
19,978
 
  
 
(19,704
) 
  
 
274
 
Favorable and assigned leases
  
 
2,188
 
  
 
(1,975
) 
  
 
213
 
Subscriber base and lists
  
 
8,647
 
  
 
(8,531
) 
  
 
116
 
Author relationships
  
 
3,070
 
  
 
(2,771
) 
  
 
299
 
Non-compete
agreements
  
 
2,052
 
  
 
(2,044
) 
  
 
8
 
Other amortizable intangible assets
  
 
1,411
 
  
 
(1,352
) 
  
 
59
 
    
 
 
     
 
 
     
 
 
  
 
  
$
61,532
 
  
$
(59,383
) 
  
$
2,149
 
    
 
 
     
 
 
     
 
 
  
Amortization
expense was approximately $
0.6
 million and $
0.3
 million for the three-month periods ended June 30, 2023 and 2022, respectively and $
1.2
 million and $
0.7
 million for the
six-month
periods ended June 30, 2023 and 2022, respectively. Based on the amortizable intangible assets held at of June 30, 2023, we estimate amortization expense for the next five years to be as follows:
Year Ended December 31,
  
Amortization Expense
 
 
  
(Dollars in thousands)
 
2023 (July – Dec)
  
$
1,046
 
2024
  
 
1,686
 
2025
  
 
1,500
 
2026
  
 
361
 
2027
  
 
231
 
Thereafter
  
 
12
 
    
 
 
  
Total
  
$
4,836