P3 Health Partners Inc. Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

Intangible Assets

Intangible Assets

12 Months Ended

Dec. 31, 2023

Intangible Assets [Abstract]

Intangible Assets

Note 8: Intangible Assets

Intangible assets, net consisted of the following as of:


	December 31,
	2023						2022
	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
	(in thousands)
Indefinite lived intangible assets:
Medical licenses	$	700	$	—	$	700	$	700	$	—	$	700
Definite lived intangible assets:
Customer relationships	684,000		(142,500)		541,500		684,000		(74,100)		609,900
Trademarks	148,635		(31,671)		116,964		148,635		(16,704)		131,931
Payor contracts	4,700		(940)		3,760		4,700		(470)		4,230
Provider network	4,800		(991)		3,809		4,800		(511)		4,289
Total	$	842,835	$	(176,102)	$	666,733	$	842,835	$	(91,785)	$	751,050

Amortization of intangible assets was $84.3 million and $84.8 million during the years ended December 31, 2023 and 2022, respectively. Estimated future amortization of intangible assets is $84.2 million for each of the years 2024 through 2028.