| Schedule of Intangible Assets |
Intangible assets consisted of the following:
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December 31, 2021 |
|
Gross Carrying
Amount |
|
Accumulated
Amortization |
|
Net Carrying
Value |
| Intangible assets subject to amortization: |
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| Reacquired franchise rights |
$ |
6,795,865 |
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|
$ |
3,153,037 |
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|
$ |
3,642,828 |
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| Customer relationships |
2,603,006 |
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|
1,587,443 |
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|
1,015,563 |
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| Reacquired development rights |
4,406,221 |
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|
3,715,594 |
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|
690,627 |
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| Assembled workforce |
59,311 |
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|
4,939 |
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|
54,372 |
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|
$ |
13,864,403 |
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|
$ |
8,461,013 |
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|
$ |
5,403,390 |
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December 31, 2020 |
|
Gross Carrying
Amount |
|
Accumulated
Amortization |
|
Net Carrying
Value |
| Intangible assets subject to amortization: |
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|
|
|
|
| Reacquired franchise rights |
$ |
3,246,894 |
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|
$ |
2,107,730 |
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|
$ |
1,139,164 |
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| Customer relationships |
1,351,975 |
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|
1,130,800 |
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|
221,175 |
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| Reacquired development rights |
3,053,201 |
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1,548,534 |
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1,504,667 |
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$ |
7,652,070 |
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$ |
4,787,064 |
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$ |
2,865,006 |
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| Schedule of Finite-Lived Intangible Assets, Future Amortization Expense |
Estimated amortization expense for 2022 and subsequent years is as follows:
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| 2022 |
$ |
2,269,517 |
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| 2023 |
1,205,732 |
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| 2024 |
637,945 |
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| 2025 |
357,842 |
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| 2026 |
258,438 |
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| Thereafter |
673,916 |
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| Total |
$ |
5,403,390 |
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| Schedule of Goodwill |
The changes in the carrying amount of goodwill were as follows:
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Corporate Clinic Segment |
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Balance as of December 31, 2020 |
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| Goodwill, gross |
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$ |
4,680,598 |
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| Accumulated impairment losses |
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(54,994) |
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| Goodwill, net |
|
4,625,604 |
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| 2021 acquisition |
|
459,599 |
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Balance as of December 31, 2021 |
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| Goodwill, gross |
|
5,140,197 |
| Accumulated impairment losses |
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(54,994) |
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| Goodwill, net |
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$ |
5,085,203 |
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