Quarterly report pursuant to Section 13 or 15(d)

Goodwill and Intangible Assets

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Goodwill and Intangible Assets
 6 Months Ended
Jun. 30, 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 six months ended June 30, 2023 were as follows (in thousands):
  Aviation Fleet Total
Balance as of December 31, 2022 $ 154,072  $ 63,190  $ 217,262 
Acquisitions 4,761  —  4,761 
Balance as of June 30, 2023 $ 158,833  $ 63,190  $ 222,023 

Goodwill increased during the six months ended June 30, 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
June 30, 2023
Contract and customer-related $ 202,940  $ (120,760) $ 82,180 
Trade names 8,670  (8,032) 638 
Total $ 211,610  $ (128,792) $ 82,818 
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 gross carrying amount of contract and customer-related intangibles increased during the six months ended June 30, 2023 in connection with the acquisition during the period as discussed in Note (2) "Acquisitions."

As of June 30, 2023, the estimated future annual amortization expense related to intangible assets is as follows (in thousands):
Year Ending
Remainder of 2023 $ 5,114 
2024 9,136 
2025 9,074 
2026 8,950 
2027 7,204 
Thereafter 43,340 
Total $ 82,818