Company: NODK
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0001174947-25-001356
Chunk: 37

Company: NI Holdings, Inc.
Filing Date: 2025-11-07
Form: 10-Q
Item: Part I, Item 1
Chunk 37
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5 – 7 years  Furniture and fixtures   2,684    2,762   5 – 7 years  Automobiles   1,317    1,280   2 – 3 years  Gross cost   19,250    19,232                      Accumulated depreciation   (12,024)   (11,685)     Total property and equipment, net  $7,226   $7,547     

Depreciation expense was $175 and $186 for the three months
ended September 30, 2025 and 2024, respectively, and $519 and $616 for the nine months ended September 30, 2025 and 2024, respectively.
Depreciation expense for continuing operations was $175 and $186 for the three months ended September 30, 2025 and 2024, respectively,
and $519 and $527 for the nine months ended September 30, 2025 and 2024, respectively.

9.       Goodwill
and Other Intangibles

Goodwill

The following table presents the carrying amount of the Company’s
goodwill and related impairment by segment:

    Nine Months Ended September 30, 2025  
    Year Ended December 31, 2024 

    Non-Standard
 Auto  
    Commercial  
    Total  
    Non-Standard
 Auto  
    Commercial  
    Total 
  
    Goodwill, beginning of period 
    $—  
    $—  
    $—  
    $2,628  
    $—  
    $2,628 
  
    Impairment recognized during the period 
     —  
     —  
     —  
     (2,628) 
     —  
     (2,628)
  
    Goodwill, end of period 
    $—  
    $—  
    $—  
    $—  
    $—  
    $— 

We performed a quantitative assessment
of the goodwill related to the Primero acquisition during the fourth quarter of 2024, which is allocated to our Non-Standard Auto segment,
and concluded that the goodwill was fully impaired as of December 31, 2024, resulting in a non-cash impairment charge of $2,