Goodwill and Other Intangible Assets |
5. Goodwill and Other Intangible Assets
Goodwill
There were no changes in the carrying amount of goodwill of $2,557,595 for the three months ended June 30, 2025 and 2024.
Other Intangible Assets
The following information details the carrying amounts and accumulated amortization of the Company's intangible assets:
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | June 30, 2025 | | Useful Life | | Gross Amount | | Accumulated Amortization | | Accumulated Impairment | | Net Amount | Content | 10 - 15 years | | $ | 1,222,400 | | | $ | (622,422) | | | $ | — | | | $ | 599,978 | | Trademarks | Indefinite | | 576,000 | | | — | | | (83,000) | | | 493,000 | | Trademarks | 10 years | | 21,750 | | | (12,724) | | | — | | | 9,026 | | Customers | 1 - 14 years | | 225,600 | | | (122,122) | | | — | | | 103,478 | | Technology | 7 years | | 427,000 | | | (235,465) | | | — | | | 191,535 | | Total | | | $ | 2,472,750 | | | $ | (992,733) | | | $ | (83,000) | | | $ | 1,397,017 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | March 31, 2025 | | Useful Life | | Gross Amount | | Accumulated Amortization | | Accumulated Impairment | | Net Amount | Content | 10 - 15 years | | $ | 1,222,400 | | | $ | (589,247) | | | $ | — | | | $ | 633,153 | | Trademarks | Indefinite | | 576,000 | | | — | | | (83,000) | | | 493,000 | | Trademarks | 10 years | | 21,750 | | | (12,014) | | | — | | | 9,736 | | Customers | 1 - 14 years | | 225,600 | | | (114,269) | | | — | | | 111,331 | | Technology | 7 years | | 427,000 | | | (220,035) | | | — | | | 206,965 | | Total | | | $ | 2,472,750 | | | $ | (935,565) | | | $ | (83,000) | | | $ | 1,454,185 | |
The Company's expected aggregate annual amortization expense for existing intangible assets subject to amortization for each of the fiscal years is as follows:
| | | | | | | Expected Amortization Expense | 2026 (remaining nine months) | $ | 165,764 | | 2027 | 207,625 | | 2028 | 172,109 | | 2029 | 115,034 | | 2030 | 79,572 | | Thereafter | 163,913 | | | $ | 904,017 | |
The fair values of the definite-lived acquired intangible assets are amortized over their useful lives, which is consistent with the estimated useful life of considerations used in determining their fair values. Customer and Technology intangibles are amortized on a straight-line basis while Content and definite-lived Trademark intangibles are amortized using the sum-of-the-years' digits method. The weighted-average remaining amortization period is 7.5 years. Amortization expense was $57,168 and $60,995 for the three months ended June 30, 2025 and 2024, respectively.
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