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, 2021
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Intangible Assets Goodwill and Intangible Assets
Changes in goodwill for the years ended December 31, 2021 and 2020 are as follows (in thousands):
  Fleet Federal and Defense Aviation Total
Balance as of December 31, 2019 $ 63,190  $ 30,883  $ 182,377  $ 276,450 
Impairment charge —  —  (30,945) (30,945)
Decrease from divestiture —  —  (7,379) (7,379)
Balance as of December 31, 2020 $ 63,190  $ 30,883  $ 144,053  $ 238,126 
Increase from acquisitions —  608  10,019  10,627 
Balance as of December 31, 2021 $ 63,190  $ 31,491  $ 154,072  $ 248,753 

Goodwill increased during the year ended December 31, 2021 in connection with acquisitions completed during the year. See Note (2) "Acquisitions and Divestitures" for additional details regarding these acquisitions.

Based on our annual goodwill impairment test performed in the fourth quarter of 2021, it was determined there was no impairment of goodwill and the fair value of each of the reporting units exceeded their carrying value.

During the second quarter of 2020, due to the negative impact of the COVID-19 pandemic on our Aviation reporting unit, we recorded a $30.9 million goodwill interim impairment charge within goodwill and intangible impairment in the consolidated statements of income. Our 2020 annual goodwill impairment test determined no incremental impairment.

In 2020, in connection with the sale of our Prime Turbines subsidiary within our Aviation segment, goodwill of $7.4 million was allocated to the disposal group on a relative fair value basis and was written-off upon the completion of the sale.
Intangible assets consisted of the following (in thousands):
  Cost Accumulated Amortization Accumulated Impairment Loss Net Intangible Assets
December 31, 2021
Contract and customer-related $ 221,796  $ (116,385) $ —  $ 105,411 
Acquired technologies 12,400  (11,915) —  485 
Trade names 8,670  (6,303) —  2,367 
Total $ 242,866  $ (134,603) $ —  $ 108,263 
December 31, 2020        
Contract and customer-related $ 213,194  $ (110,917) $ (3,814) $ 98,463 
Acquired technologies 12,400  (10,787) —  1,613 
Trade names 18,770  (15,251) —  3,519 
Total $ 244,364  $ (136,955) $ (3,814) $ 103,595 

Intangible assets with a gross carrying value of $20.8 million are no longer reflected in the gross carrying value and accumulated amortization as of December 31, 2021. The increase in the gross carrying amount of contract and customer-related intangibles during the year ended December 31, 2021 relates to customer relationship intangible assets recognized in connection with acquisitions completed during the year, partially offset by the removal of fully amortized assets of $10.7 million. See Note (2) "Acquisitions and Divestitures" for additional details regarding these acquisitions. There were no impairment losses during 2021.

During 2020, we recorded an impairment charge of $2.8 million in connection with the sale of all of the inventory of our CT Aerospace subsidiary, which was part of our Aviation segment. The impairment is presented within goodwill and intangible impairment in the consolidated statements of income.

Amortization expense for the years ended December 31, 2021, 2020 and 2019 was approximately $18.5 million, $17.5 million and $19.3 million, respectively.

Future expected amortization of intangible assets is as follows for the years ending December 31, (in thousands):
 
2022 $ 17,639 
2023 13,639 
2024 10,059 
2025 9,015 
2026 8,190 
Thereafter 49,721 
Total $ 108,263