Company: CELH
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0001341766-25-000080
Chunk: 13

Company: Celsius Holdings, Inc.
Filing Date: 2025-05-06
Form: 10-Q
Item: Item 8
Chunk 13
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 summarizes the Company's property, plant and equipment balances and includes the estimated useful lives that are generally used to depreciate the assets on a straight-line basis:Estimated UsefulLife in YearsMarch 31,2025December 31,2024Merchandising equipment - coolers3-7$43,441 $39,231 Vehicles512,237 12,237 Machinery and equipment7-1511,683 10,136 Leasehold improvements3-52,375 2,561 Office equipment 3-71,681 2,228 Less: accumulated depreciation(12,719)(10,791)Property, plant and equipment-net$58,698 $55,602 Depreciation expense amounted to approximately $2.4 million and $1.1 million for the three months ended March 31, 2025 and 2024, respectively, and is reflected in selling, general and administrative expenses.

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Celsius Holdings, Inc.Notes to the Condensed Consolidated Financial Statements (Unaudited)March 31, 2025(Tabular dollars in thousands, except per share amounts)

8.     GOODWILL AND INTANGIBLES

As of March 31, 2025 and December 31, 2024, goodwill, net of the impact of foreign exchange rate fluctuations, was approximately $72.1 million and $71.6 million, respectively.The carrying amount and accumulated amortization of definite-lived intangible assets, and the carrying amount of indefinite-lived intangible assets, net of the impact of foreign exchange rate fluctuations, as of March 31, 2025 and December 31, 2024, were as follows:Estimated UsefulLife in YearsMarch 31,2025December 31,2024Definite-lived intangible assetsCustomer relationships6-25$14,505 $13,970 Trade name3500 500 Less: accumulated amortization(3,014)(2,692)Definite-lived intangible assets, net$11,991 $11,778 Indefinite-lived intangible assetsBrands453 435 Intangibles-net$12,444 $12,213 As of March 31, 2025 and December 31, 2024, there were no indicators of goodwill or intangible asset impairment. Amortization expense for the three months ended March 31, 2025 and 2024 was approximately $