Quarterly report pursuant to Section 13 or 15(d)

Goodwill and Other Intangible Assets

v3.21.2
Goodwill and Other Intangible Assets
9 Months Ended
Sep. 30, 2021
Goodwill And Intangible Assets Disclosure [Abstract]  
Goodwill and Other Intangible Assets
12.
Goodwill and Other Intangible Assets

A summary of the Company’s goodwill is as follows:

 

 

 

U.S.
Operating
Segment

 

 

International
Operating
Segment

 

 


 
Total

 

Balance at January 1, 2021 (1)

 

$

1,182,853

 

 

$

70,987

 

 

$

1,253,840

 

Foreign currency translation adjustments

 

 

 

 

 

(3,705

)

 

 

(3,705

)

Balance at September 30, 2021 (1)

 

$

1,182,853

 

 

$

67,282

 

 

$

1,250,135

 

(1)
Balances are presented net of accumulated impairment losses of $214,031 for the U.S. operating segment and $43,750 for the international operating segment. See discussion of the qualitative impairment analysis performed by the Company as of September 30, 2021 at Note 13.

A summary of the Company’s intangible assets is as follows:

 

 

 

Balance at
January 1, 2021

 

Additions (1)

 

Amortization

 

Foreign Currency Translation Adjustments

 

Balance at September 30, 2021

 

Intangible assets with finite lives:

 

 

 

 

 

 

 

 

 

 

 

Gross carrying amount

 

$

82,432

 

$

 

$

 

$

(132

)

$

82,300

 

Accumulated amortization

 

 

(68,416

)

 

 

(1,994

)

 

 

 

(70,410

)

Total net intangible assets with finite lives

 

$

14,016

 

$

 

$

(1,994

)

$

(132

)

$

11,890

 

 

 

 

 

 

 

 

 

 

 

 

 

Intangible assets with indefinite lives:

 

 

 

 

 

 

 

 

 

 

 

Tradename and other

 

 

300,179

 

 

146

 

 

 

 

(190

)

 

300,135

 

Total intangible assets, net

 

$

314,195

 

$

146

 

$

(1,994

)

$

(322

)

$

312,025

 

(1)
Amount represents alcoholic beverage licenses acquired.

The estimated aggregate future amortization expense for intangible assets is as follows:

 

For the three months ended December 31, 2021

 

$

680

 

For the twelve months ended December 31, 2022

 

 

2,519

 

For the twelve months ended December 31, 2023

 

 

2,429

 

For the twelve months ended December 31, 2024

 

 

2,429

 

For the twelve months ended December 31, 2025

 

 

2,316

 

Thereafter

 

 

1,517

 

Total

 

$

11,890