Goodwill and Intangibles |
11. Goodwill and Intangibles: The following schedule represents the gross carrying amount and accumulated amortization of intangible assets as of March 31, 2025 and December 31, 2024. Product rights and trademarks are amortized over the lesser of the useful life ranging from 10 to 25 years, or the patent life. Customer lists are amortized over their expected useful lives of nine to ten years. The amortization expense is included in operating expenses on the consolidated statements of operations.
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2025 |
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2024 |
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Gross |
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Accumulated Amortization |
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Net Book Value |
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Gross |
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Accumulated Amortization |
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Net Book Value |
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Product rights and patents |
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$ |
261,017 |
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$ |
140,522 |
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$ |
120,495 |
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$ |
260,928 |
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$ |
138,090 |
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$ |
122,838 |
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Trademarks |
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38,579 |
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14,786 |
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23,793 |
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38,475 |
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14,375 |
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24,100 |
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Customer lists |
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12,144 |
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8,764 |
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3,380 |
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11,874 |
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8,315 |
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3,559 |
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Total intangibles assets |
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$ |
311,740 |
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$ |
164,072 |
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$ |
147,668 |
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$ |
311,277 |
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$ |
160,780 |
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$ |
150,497 |
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Domestic intangible assets |
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172,805 |
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103,918 |
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68,887 |
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172,755 |
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102,347 |
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70,408 |
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International intangible assets |
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138,935 |
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60,154 |
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78,781 |
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138,522 |
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58,433 |
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80,089 |
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Total intangibles assets - domestic and international |
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$ |
311,740 |
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$ |
164,072 |
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$ |
147,668 |
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$ |
311,277 |
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$ |
160,780 |
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$ |
150,497 |
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The following schedule represents intangible assets activity for the three months ended March 31, 2025:
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Amount |
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Intangible assets at January 1, 2025 |
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$ |
150,497 |
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Additions during Q1 2025 |
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27 |
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Impact of movement in exchange rates |
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210 |
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Amortization expense |
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(3,066 |
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Intangible assets at March 31, 2025 |
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$ |
147,668 |
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Goodwill at January 1, 2025 |
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$ |
19,701 |
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Impact of movement in exchange rates |
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590 |
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Goodwill at March 31, 2025 |
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$ |
20,291 |
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The following schedule represents future amortization charges related to intangible assets:
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Year ending December 31, |
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Amount |
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2025 |
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$ |
9,105 |
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2026 |
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12,125 |
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2027 |
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12,067 |
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2028 |
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11,057 |
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2029 |
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10,759 |
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Thereafter |
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92,555 |
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$ |
147,668 |
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During the three months ended March 31, 2025, and 2024, amortization expense was $3,066 and $3,274, respectively.
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