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GOODWILL AND IDENTIFIABLE INTANGIBLE ASSETS, NET
 12 Months Ended
Dec. 31, 2022
Goodwill And Identifiable Intangible Assets Net  
GOODWILL AND IDENTIFIABLE INTANGIBLE ASSETS, NET

 

14.GOODWILL AND IDENTIFIABLE INTANGIBLE ASSETS, NET

 

The following table shows the Company’s goodwill balances by reportable segment. The Company reviews goodwill for impairment on a reporting unit basis annually and whenever events or changes in circumstances indicate the carrying value of goodwill may not be recoverable. During the years ended December 31, 2022 and 2021, the Company recognized goodwill impairment in the amount of $2,092,048 and $0, respectively. The Company based this decision on impairment testing of the underlying assets, expected cash flows, decreased asset value and other factors.

 

The following table shows goodwill balances by reportable segment: 

                    
  

Affordable

Housing Rentals

  

Financial

Services

   Healthcare   Total 
                 
Gross carrying value at December 31, 2021  $–   $2,092,048   $5,666,608   $7,758,656 
Accumulated impairment   –    –    –    – 
Carrying value at December 31, 2021   –    2,092,048    5,666,608    7,758,656 
Accumulated impairment   –    (2,092,048)   –    (2,092,048)
Carrying value at December 31, 2022  $–   $–   $5,666,608   $5,666,608