| Goodwill and Intangible Assets |
NOTE 6 GOODWILL AND INTANGIBLE ASSETS Goodwill Goodwill was $1,293,346 as of March 31, 2025 and December 31, 2024. There have been no changes to the goodwill carrying value during the period. Intangible Assets Intangible assets consist of the following:
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March 31, 2025 |
|
Gross
Carrying Amount |
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|
Accumulated
Amortization |
|
|
Net
Carrying Amount |
|
|
Weighted
Average Useful
Life (Years) |
|
Regional trade names |
|
$ |
36,694 |
|
|
$ |
(35,497 |
) |
|
$ |
1,197 |
|
|
|
4.0 |
|
LifeStance trade names |
|
|
235,500 |
|
|
|
(51,107 |
) |
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|
184,393 |
|
|
|
22.5 |
|
Non-competition agreements |
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|
94,535 |
|
|
|
(92,792 |
) |
|
|
1,743 |
|
|
|
4.2 |
|
Total intangible assets |
|
$ |
366,729 |
|
|
$ |
(179,396 |
) |
|
$ |
187,333 |
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December 31, 2024 |
|
Gross
Carrying Amount |
|
|
Accumulated
Amortization |
|
|
Net
Carrying Amount |
|
|
Weighted
Average Useful
Life (Years) |
|
Regional trade names |
|
$ |
36,694 |
|
|
$ |
(35,039 |
) |
|
$ |
1,655 |
|
|
|
4.0 |
|
LifeStance trade names |
|
|
235,500 |
|
|
|
(48,490 |
) |
|
|
187,010 |
|
|
|
22.5 |
|
Non-competition agreements |
|
|
94,535 |
|
|
|
(92,401 |
) |
|
|
2,134 |
|
|
|
4.2 |
|
Total intangible assets |
|
$ |
366,729 |
|
|
$ |
(175,930 |
) |
|
$ |
190,799 |
|
|
|
|
Gross carrying amount is based on the fair value of the intangible assets determined at the acquisition date. Total intangible asset amortization expense consists of the following:
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Three Months Ended March 31, |
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2025 |
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|
2024 |
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Amortization expense |
|
$ |
3,466 |
|
|
$ |
12,543 |
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