Definite-Lived Intangible Assets. The Company acquired definite-lived intangible assets in connection with various acquisitions of businesses prior to 2025. The distributor relationships have a carrying value of $53,834, net of accumulated amortization of $11,266. The distributor relationships have a useful life of 20 years. The amortization expense for the quarters ended June 30, 2025 and 2024 was $814. The amortization expense for years to date ended June 30, 2025 and 2024 was $1,627.

As of June 30, 2025, the expected future amortization expense related to definite-lived intangible assets is as follows:

Goodwill and Indefinite-Lived Intangible Assets. The Company records goodwill and indefinite-lived intangible assets in connection with various acquisitions of businesses and allocates the goodwill and indefinite-lived intangible assets to its respective reporting units. The carrying amount of goodwill, which relates to the Branded Spirits segment, was $247,789 at both June 30, 2025 and December 31, 2024. The carrying amount of trade name indefinite-lived intangible assets, which relates to the Branded Spirits segment, was $212,990 at both June 30, 2025 and December 31, 2024.