Intangible assets are recorded at cost less accumulated amortization and impairment losses, if any. Intangible assets acquired in a business combination are measured at fair value as of the acquisition date. Amortization of definite life intangible assets is provided on a straight-line basis over their estimated useful lives. The estimated useful lives, residual values, and amortization methods for intangible assets are reviewed by the Company at each reporting period, and any changes in estimates are accounted for prospectively.


	Licenses		Tradenames		Technology		Total
Cost
Balance as of January 1, 2026	$	794,183	$	45,108	$	5,546	$	844,837
Balance as of March 31, 2026	$	794,183	$	45,108	$	5,546	$	844,837

Accumulated Amortization
Balance as of January 1, 2026	239,895		21,369		4,483		265,747
Amortization	13,277		1,128		110		14,515
Balance as of March 31, 2026	$	253,172	$	22,497	$	4,593	$	280,262

Net Book Value
Balance as of January 1, 2026	554,288		23,739		1,063		579,090
Balance as of March 31, 2026	$	541,011	$	22,611	$	953	$	564,575

The following table outlines the estimated annual amortization expense related to intangible assets as of March 31, 2026:


Year Ending December 31,	Estimated Amortization
2026 (Remaining)	$	43,393
2027	57,875
2028	57,862
2029	57,859
2030	57,859
Thereafter	289,727
Total	$	564,575

The changes in the carrying amount of goodwill, by reportable segment, for the three months ended March 31, 2026 were as follows:


	January 1, 2026		Impairment		Adjustments to purchase price allocation		Acquisitions		March 31, 2026
Cultivation	$	8,063	$	—	$	—	$	—	$	8,063
Retail	152,946		—		—		—		152,946
Total	$	161,009	$	—	$	—	$	—	$	161,009