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Intangible Assets (Tables)
3 Months Ended
Mar. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]  
Summary of Intangible Assets

Intangible assets consists of the following:

March 31, 2022

 

Gross
Carrying Amount

 

 

Accumulated
Amortization

 

 

Net
Carrying Amount

 

 

Weighted
Average Useful
Life (Years)

 

Regional trade names

 

$

34,759

 

 

$

(11,359

)

 

$

23,400

 

 

 

5.0

 

LifeStance trade names

 

 

235,500

 

 

 

(19,707

)

 

 

215,793

 

 

 

22.5

 

Non-competition agreements

 

 

93,190

 

 

 

(41,203

)

 

 

51,987

 

 

 

4.2

 

Total intangible assets

 

$

363,449

 

 

$

(72,269

)

 

$

291,180

 

 

 

 

 

December 31, 2021

 

Gross
Carrying Amount

 

 

Accumulated
Amortization

 

 

Net
Carrying Amount

 

 

Weighted
Average Useful
Life (Years)

 

Regional trade names

 

$

34,417

 

 

$

(9,633

)

 

$

24,784

 

 

 

5.0

 

LifeStance trade names

 

 

235,500

 

 

 

(17,090

)

 

 

218,410

 

 

 

22.5

 

Non-competition agreements

 

 

92,750

 

 

 

(35,589

)

 

 

57,161

 

 

 

4.2

 

Total intangible assets

 

$

362,667

 

 

$

(62,312

)

 

$

300,355

 

 

 

 

Summary of Intangible Assets Amortization Expense

Gross carrying amount is based on the fair value of the intangible assets determined at acquisitions. Total intangible asset amortization expense consists of the following:

 

 

Three Months Ended March 31,

 

 

 

2022

 

 

2021

 

Amortization expense

 

$

9,957

 

 

$

9,619