Quarterly report pursuant to Section 13 or 15(d)

Goodwill and Intangible Assets

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Goodwill and Intangible Assets
 3 Months Ended
Mar. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Intangible Assets Goodwill and Intangible Assets
Goodwill

Changes in the carrying amount of goodwill by segment for the three months ended March 31, 2023 were as follows (in thousands):
  Aviation Fleet Federal and Defense Total
Balance as of December 31, 2022 $ 154,072  $ 63,190  $ 31,575  $ 248,837 
Acquisitions 4,743  —  —  4,743 
Balance as of March 31, 2023 $ 158,815  $ 63,190  $ 31,575  $ 253,580 

Goodwill increased during the three months ended March 31, 2023 in connection with the acquisition during the period as discussed in Note (2) "Acquisitions."

Intangible Assets

Intangible assets consisted of the following (in thousands):
  Gross carrying value Accumulated amortization Net carrying value
March 31, 2023
Contract and customer-related $ 210,091  $ (120,953) $ 89,138 
Trade names 8,670  (7,744) 926 
Total $ 218,761  $ (128,697) $ 90,064 
December 31, 2022      
Contract and customer-related $ 206,291  $ (116,881) $ 89,410 
Trade names 8,670  (7,456) 1,214 
Total $ 214,961  $ (124,337) $ 90,624 

The gross carrying amount of contract and customer-related intangibles increased during the three months ended March 31, 2023 in connection with the acquisition during the period as discussed in Note (2) "Acquisitions."

As of March 31, 2023, the estimated future annual amortization expense related to intangible assets is as follows (in thousands):
Year Ending
Remainder of 2023 $ 9,976 
2024 10,819 
2025 9,775 
2026 8,950 
2027 7,204 
Thereafter 43,340 
Total $ 90,064