Annual report pursuant to Section 13 and 15(d)

GOODWILL AND INTANGIBLE ASSETS (Tables)

v3.22.4
GOODWILL AND INTANGIBLE ASSETS (Tables)
 12 Months Ended
Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]  
Summary of Activity in Goodwill
Balance at December 31, 2020 $ 62,834 
Goodwill acquired (see Note 3) 112,310 
Balance at December 31, 2021 $ 175,144 
Measurement period adjustment(1)
(1,710)
Goodwill acquired (see Note 3) 3,335 
Balance at December 31, 2022 $ 176,769 
______________________________
(1)The Company recorded a measurement period adjustment that included a decrease to goodwill of $1.7 million and an increase to income tax receivable of $1.7 million. This adjustment did not impact the Company's statements of income.
Schedule of Finite-Lived Intangible Assets
The following table presents the Company's intangible assets, net as of December 31, 2022:
  Gross Intangibles Accumulated Amortization Net Intangibles Weighted Average Amortization Period (Years)
Referral network $ 42,300  $ 10,575  $ 31,725  4.2
Non-compete agreements 2,700  1,350  1,350  0.1
  $ 45,000  $ 11,925  $ 33,075  4.3
Schedule of Expected Amortization Expense
As of December 31, 2022, expected amortization expense for the unamortized acquired intangible assets for the next five years and thereafter is as follows:
Amount
2023 $ 7,950 
2024 7,500 
2025 7,050 
2026 7,050 
2027 3,525 
$ 33,075