Westrock Coffee Co
For the period ended Mar 31, 2024. Filed May 9, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 9, 2024
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9. Intangible Assets, Net
Note 9. Intangible Assets, Net
The following table summarizes intangible assets, net as of March 31, 2024 and December 31, 2023:
| | | | | | | | | | |
|---|---|---|---|---|---|---|---|---|---|
| · · March 31, 2024 | |||||||||
| · · · · Accumulated · · | |||||||||
| (Thousands) · Cost · Amortization · Net | |||||||||
| Customer relationships | | $148,648 | | $(28,415) | | $120,233 | |||
| Favorable lease asset | | | 790 | | | (481) | | | 309 |
| Software | | | 1,119 | | | (711) | | | 408 |
| Intangible assets, net | | $150,557 | | $(29,607) | | $120,950 | |||
| | | | | | | | | | |
|---|---|---|---|---|---|---|---|---|---|
| · · December 31, 2023 | |||||||||
| · · · · Accumulated · · | |||||||||
| (Thousands) · Cost · Amortization · Net | |||||||||
| Customer relationships | | $148,648 | | $(26,487) | | $122,161 | |||
| Favorable lease asset | | | 790 | | | (413) | | | 377 |
| Software | | | 1,079 | | | (672) | | | 407 |
| Intangible assets, net | | $150,517 | | $(27,572) | | $122,945 | |||
Amortization expense of intangible assets was $2.0 million and $2.0 millionfor the three months ended March 31, 2024 and 2023, respectively. As of March 31, 2024, the weighted average useful life for definite-lived intangibles is approximately 20 years.
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