Note 11: Goodwill

Goodwill, which represents the excess of cost over the fair value of net assets acquired, amounted to $1,309,750,216 as of March 31, 2022, and December 31, 2021. The Company did not make any new acquisitions during the three months ended March 31, 2022.

Based on Management’s qualitative analysis, no goodwill impairment charges were recorded in the period ended March 31, 2022, and the Predecessor period ended March 31, 2021.

Due to the decrease in the share price over the second quarter of 2022, the Company will record a goodwill impairment of $851.5 million as of June 30, 2022. The amount was not recorded at March 31, 2022 as the decline in the share price was considered temporary under the ASC 350 guidance as of those dates.