v3.26.1
Intangible Assets And Goodwill (Tables)
 3 Months Ended
Mar. 31, 2026
Goodwill and Intangible Assets Disclosure [Abstract]  
Summary of intangible assets

At March 31, 2026 and December 31, 2025, intangible assets consisted of the following:

 

 

 

March 31, 2026

 

 

December 31, 2025

 

 

 

Gross Carrying Amount

 

 

Accumulated Amortization

 

 

Net Book Value

 

 

Gross Carrying Amount

 

 

Accumulated Amortization

 

 

Net Book Value

 

 

 

(in thousands)

 

 

(in thousands)

 

Licenses and permits

$

 

681,749

 

$

 

258,066

 

$

 

423,683

 

$

 

682,639

 

$

 

246,669

 

$

 

435,970

 

Trademarks

 

 

1,430

 

 

 

1,069

 

 

 

361

 

 

 

1,430

 

 

 

1,027

 

 

 

403

 

Customer relationships

 

 

15,140

 

 

 

15,076

 

 

 

64

 

 

 

15,140

 

 

 

14,832

 

 

 

308

 

Total intangible assets

$

 

698,319

 

$

 

274,211

 

$

 

424,108

 

$

 

699,209

 

$

 

262,528

 

$

 

436,681

 
Summary of estimated annual amortization expense related to intangible assets

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

 

 

Estimated
Amortization

Year Ending December 31,

 

(in thousands)

Remainder of 2026

$

34,314

2027

 

45,667

2028

 

45,569

2029

 

45,500

2030

 

45,458

2031 and thereafter

 

207,600

 

$

424,108

As of March 31, 2026, the weighted average amortization period remaining for intangible assets was 9.58 years.

(b)
Summary of Goodwill And Intangible Assets Disclosure

At March 31, 2026 and December 31, 2025 the balances of goodwill, by segment, consisted of the following:

 

 

 

March 31, 2026

 

December 31, 2025

 

 

(in thousands)

Retail

$

276,955

$

277,342

Consumer packaged goods

 

314,809

 

314,809

Total

$

591,764

$

592,151

 

Goodwill is recognized net of accumulated impairment losses of $57,372 thousand as of March 31, 2026 and December 31, 2025, respectively. During the three months ended March 31, 2026 and 2025, there were no conditions present that would require consideration as to whether an impairment test was necessary.