Westrock Coffee Co
For the period ended Sep 30, 2024. Filed Nov 7, 2024.
View on SEC.govAbout this filing
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.
Sep 30, 2024 · Filed Nov 7, 2024
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9. Intangible Assets, Net
Note 9. Intangible Assets, Net
The following table summarizes intangible assets, net as of September 30, 2024 and December 31, 2023:
| | | | | | | | | | |
|---|---|---|---|---|---|---|---|---|---|
| · · September 30, 2024 | |||||||||
| · · · · Accumulated · · | |||||||||
| (Thousands) · Cost · Amortization · Net | |||||||||
| Customer relationships | | $148,648 | | $(32,270) | | $116,378 | |||
| Favorable lease asset | | | 790 | | | (616) | | | 174 |
| Software | | | 1,215 | | | (799) | | | 416 |
| Intangible assets, net | | $150,653 | | $(33,685) | | $116,968 | |||
| | | | | | | | | | |
|---|---|---|---|---|---|---|---|---|---|
| · · 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 $6.1 million for the three and nine months ended September 30, 2024, respectively, and amortization expense of intangible assets was $2.0 million and $6.0 million for the three and nine months ended September 30,2023, respectively. As of September 30, 2024, the weighted average useful life for definite-lived intangibles is approximately 20 years.
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