Goodwill and Intangible Assets

3 Months Ended

Mar. 31, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets

Goodwill and Intangible AssetsDefinite-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 $39,330, net of accumulated amortization of $2,070. The distributor relationships have a useful life of 20 years. The amortization expense for the quarter ended March 31, 2022 was $518.

As of March 31, 2022, the expected future amortization expense related to definite-lived intangibles assets are as follows:

Remainder of 2022	$	1,552
2023	2,070
2024	2,070
2025	2,070
2026	2,070
Thereafter	29,498
Total	$	39,330

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:

	Distilling Solutions		Branded Spirits		Ingredient Solutions		Total
Balance, December 31, 2021	$	—	$	226,294	$	—	$	226,294
Acquisitions	—		—		—		—
Balance, March 31, 2022	$	—	$	226,294	$	—	$	226,294

Changes in carrying amount of trade name intangible assets by business segment were as follows:

	Distilling Solutions		Branded Spirits		Ingredient Solutions		Total
Balance, December 31, 2021	$	—	$	178,990	$	—	$	178,990
Acquisitions	—		—		—		—
Balance, March 31, 2022	$	—	$	178,990	$	—	$	178,990