Goodwill and Intangible Assets
|9 Months Ended|
Sep. 30, 2021
|Goodwill And Intangible Assets Disclosure [Abstract]|
|Goodwill and Intangible Assets||
Note 7 – Goodwill and Intangible Assets
Goodwill represents the excess of cost over the fair value of identifiable net assets acquired related to the original purchase of the various franchise businesses and acquisition of company-owned studios. Goodwill is not amortized but is tested annually for impairment or more frequently if indicators of potential impairment exist. During the nine months ended September 30, 2021, there was an increase of $8,183 in previously reported goodwill due to the acquisition of Rumble as discussed in Note 3. Goodwill totaled $147,863 and $139,680 at September 30, 2021 and December 31, 2020, respectively.
Intangible assets consisted of the following:
Amortization expense was $1,671 and $4,679, for the three and nine months ended September 30, 2021, respectively, and $1,294 and $3,753 for the three and nine months ended September 30, 2020, respectively.
The anticipated future amortization expense of intangible assets is as follows:
The entire disclosure for goodwill and intangible assets.
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef