Annual report pursuant to Section 13 and 15(d)

Goodwill and Intangible Assets

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Goodwill and Intangible Assets
12 Months Ended
Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Intangible Assets Goodwill and Intangible Assets
Goodwill

Changes in goodwill for the years ended December 31, 2023 and 2022 by operating segment were as follows (in thousands):
  Fleet
Aviation
Total
Balance as of December 31, 2021 $ 63,190  $ 154,072  $ 217,262 
Balance as of December 31, 2022 $ 63,190  $ 154,072  $ 217,262 
Goodwill acquired —  134,519  134,519 
Balance as of December 31, 2023 $ 63,190  $ 288,591  $ 351,781 

Goodwill increased during the year ended December 31, 2023 in connection with acquisitions completed during the period as discussed in Note (2) "Acquisitions." There were no impairments of goodwill during the years ended December 31, 2023, 2022 and 2021.
Intangible Assets

Intangible assets consisted of the following (in thousands):
  Cost Accumulated Amortization Net Intangible Assets
December 31, 2023
Contract and customer-related $ 241,090  $ (127,022) $ 114,068 
Trade names 8,670  (8,608) 62 
Total $ 249,760  $ (135,630) $ 114,130 
December 31, 2022      
Contract and customer-related $ 199,140  $ (113,796) $ 85,344 
Trade names 8,670  (7,456) 1,214 
Total $ 207,810  $ (121,252) $ 86,558 

The increase in the gross carrying amount of contract and customer-related intangibles during the year ended December 31, 2023 relates to customer relationship intangible assets recognized in connection with acquisitions completed during the year as discussed in Note (2) "Acquisitions." There were no impairment losses during the years ended December 31, 2023, 2022 and 2021. The weighted-average useful life for all intangible assets of December 31, 2023 is 13.9 years.

The estimated future annual amortization expense related to intangible assets are as follows (in thousands):
Year Ending December 31,
2024 $ 13,313 
2025 13,278 
2026 13,154 
2027 11,407 
2028 10,574 
Thereafter 52,404 
Total $ 114,130