Quarterly report pursuant to Section 13 or 15(d)

Intangible Assets

v3.21.2
Intangible Assets
6 Months Ended
Jun. 30, 2021
BRIDGE INVESTMENT GROUP HOLDINGS LLC [Member]  
Finite-Lived Intangible Assets [Line Items]  
Intangible Assets
1
0
.
INTANGIBLE ASSETS
The Company amortizes its intangible assets from its business combinations over 6 to 10 years. Amortization is based on the pattern in which the estimated economic benefits of the intangible asset will be consumed. The Company evaluates the recoverability of its intangible assets periodically if there is a triggering event. The amortization expense for these intangible assets was $0.4 million for both the three months ended June 30, 2021 and 2020 and $0.8 million for both the six months ended June 30, 2021 and 2020.
Summarized below are the carrying values for the major classes of intangible assets as of June 30, 2021 and 2020 (in thousands):
 
 
  
Weighted
Average
Life
 
  
Gross
Carrying
Amount
 
  
Accumulated
Amortization
 
 
Net Carrying
Amount
 
June 30, 2021:
 
  
     
 
     
Customer Lists
     10 yrs     
$
6,835     
$
(6,835    $
 
 
 
 
Management Contracts
     6 yrs        9,063        (4,909 )      4,154
 
 
                               
 
 
 
Total
                             
$
4,154
 
                               
 
 
 
December 31, 2020:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Customer Lists
     10 yrs        6,835        (6,781    $ 54  
Management Contracts
     6 yrs        9,063        (4,207      4,856  
                               
 
 
 
Total
                             
$
4,910