INTANGIBLE ASSETS AND GOODWILL
|3 Months Ended|
Mar. 31, 2022
|Goodwill and Intangible Assets Disclosure [Abstract]|
|INTANGIBLE ASSETS AND GOODWILL||
NOTE 8 - INTANGIBLE ASSETS AND GOODWILL
The following table summarizes identifiable intangible assets of the Company as of December 31, 2021 and March 31, 2022:
SCHEDULE OF INTANGIBLE ASSETS
At March 31, 2022, the weighted-average amortization period for the intangible assets was 9.1 years. At March 31, 2022, the weighted-average amortization periods for customer relationships, trademarks and trade names, patents, technology, favorable contract interests and covenant not to compete were 11.9, 9.6, 7.0, 4.3, 0.0 and 5.0 years, respectively.
Amortization expense for the three-month periods ended March 31, 2021 and March 31, 2022 was $1,299 and $respectively. Estimated future amortization expense for each of the five succeeding fiscal years for these intangible assets is as follows:
SCHEDULE OF FINITE-LIVED INTANGIBLE ASSETS AMORTIZATION EXPENSE
There have been no changes in the carrying amount of goodwill from January 1, 2021 to March 31, 2022.
For the three-month period ended March 31, 2022, the Company did not identify any indicators of impairment.
The entire disclosure for goodwill and intangible assets.
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef