Quarterly report pursuant to Section 13 or 15(d)

Goodwill and Intangible Assets (Tables)

v3.22.2.2
Goodwill and Intangible Assets (Tables)
 9 Months Ended
Sep. 30, 2022
Intangible Assets, Gross (Excluding Goodwill) [Abstract]  
Changes in Carrying Value of Goodwill
The changes in the carrying value of goodwill are as follows:

Goodwill balance, December 31, 2021 $ 13,328 
Additions(1) 19,026 
Foreign currency translation (502)
Goodwill balance, September 30, 2022 $ 31,852 
_________
(1) Additions represent goodwill associated with the acquisition of Blade Europe. See Note 3 for additional information.
Schedule of Indefinite-Lived Intangible Assets
The following table presents information about the Company's intangible assets as of:

September 30, 2022 December 31, 2021
Estimated Useful Life
Gross
Carrying
Amount
Accumulated
Amortization

 
Net
Gross
Carrying
Amount

Accumulated
Amortization

Net
Exclusive rights to air transportation services(1)(2)
5-10 years
 $ 36,788  $ (2,127) $ 34,661  $ 12,357  $ (206) $ 12,151 
Customer list(1)
3-10 years
 14,352  (1,974) 12,378  11,542  (957) 10,585 
Domain name Indefinite 504  —  504  504  —  504 
Trademarks
6-10 years
 1,006  (179) 827  1,006  (51) 955 
Developed technology
3 years
 250  (87) 163  250  (24) 226 
Total $ 52,900  $ (4,367) $ 48,533  $ 25,659  $ (1,238) $ 24,421 
__________
(1) Includes preliminary estimate for intangible assets associated with the acquisition of Blade Europe. See Note 3 for additional information.
(2) Exclusive rights to air transportation services include exclusive rights to Helijet’s scheduled passenger routes in Canada acquired in 2021.
Schedule of Finite-Lived Intangible Assets
The following table presents information about the Company's intangible assets as of:

September 30, 2022 December 31, 2021
Estimated Useful Life
Gross
Carrying
Amount
Accumulated
Amortization

 
Net
Gross
Carrying
Amount

Accumulated
Amortization

Net
Exclusive rights to air transportation services(1)(2)
5-10 years
 $ 36,788  $ (2,127) $ 34,661  $ 12,357  $ (206) $ 12,151 
Customer list(1)
3-10 years
 14,352  (1,974) 12,378  11,542  (957) 10,585 
Domain name Indefinite 504  —  504  504  —  504 
Trademarks
6-10 years
 1,006  (179) 827  1,006  (51) 955 
Developed technology
3 years
 250  (87) 163  250  (24) 226 
Total $ 52,900  $ (4,367) $ 48,533  $ 25,659  $ (1,238) $ 24,421 
__________
(1) Includes preliminary estimate for intangible assets associated with the acquisition of Blade Europe. See Note 3 for additional information.
(2) Exclusive rights to air transportation services include exclusive rights to Helijet’s scheduled passenger routes in Canada acquired in 2021.
Schedule of Estimated Amortization Expense
As of September 30, 2022, the estimated amortization expense of its finite-lived intangible assets for each of the next five years are as follows:

For the Year Ended December 31,
2022 (balance of the year) $ 1,816 
2023 7,179 
2024 7,051 
2025 6,680 
2026 5,864