GOODWILL AND OTHER INTANGIBLE ASSETS

12 Months Ended

Dec. 31, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

GOODWILL AND OTHER INTANGIBLE ASSETS

GOODWILL AND OTHER INTANGIBLE ASSETS

Definite-Lived Intangible Assets

The Company has a definite-lived intangible asset which was acquired as a result of the Merger. The distributor relationships have a carrying value of $39,848, net of accumulated amortization of $1,552. The distributor relationships have a useful life of 20 years. The amortization expense for the year ended December 31, 2021 was $1,552.

As of December 31, 2021, the expected future amortization expense related to definite-lived intangibles assets are as follows:

2022	$	2,070
2023	2,070
2024	2,070
2025	2,070
2026	2,070
Thereafter	29,498
Total	$	39,848

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. Changes in carrying amount of goodwill by business segment were as follows:

	Distillery Products		Branded Spirits		Ingredient Solutions		Total
Balance at December 31, 2020	$	—	$	2,738	$	—	$	2,738
Acquisitions	—		223,556		—		223,556
Balance at December 31, 2021	$	—	$	226,294	$	—	$	226,294

Changes in carrying amount of indefinite-lived intangible assets by business segment were as follows:

	Distillery Products		Branded Spirits		Ingredient Solutions		Total
Balance at December 31, 2020	$	—	$	890	$	—	$	890
Acquisitions	—		178,100		—		178,100
Balance at December 31, 2021	$	—	$	178,990	$	—	$	178,990