XML 27 R13.htm IDEA: XBRL DOCUMENT
v3.22.4

GOODWILL AND OTHER INTANGIBLES | 12 Months Ended
--- | ---
Dec. 31, 2022
Goodwill and Other Intangibles |
Goodwill and other intangibles | NOTE 6 – GOODWILL AND OTHER INTANGIBLES ​ Goodwill: Goodwill is reviewed for impairment annually during the fourth quarter, or more frequently if events or changes in circumstances indicate that impairment may exist. Goodwill is not amortizable for financial statement purposes. The Company did not record any goodwill impairment during the years ended December 31, 2022, 2021 or 2020. ​ The following table identifies the changes in goodwill and certain acquisition intangibles, which were included in “Goodwill” on the accompanying Consolidated Balance Sheets for the years ended December 31, 2022 and 2021 (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2022 |  | 2021
Goodwill, balance at January 1, | ​ | $ | 879,340 | ​ | $ | 881,030
Change in goodwill related to small acquisitions | ​ |  | 1,452 | ​ |  | 493
Foreign currency translation | ​ | ​ | 3,653 | ​ | ​ | (2,183)
Goodwill, balance at December 31, | ​ | $ | 884,445 | ​ | $ | 879,340
​ Intangibles other than goodwill: The following table identifies the components of the Company’s intangible assets, inclusive of foreign currency translation adjustments, which were included in “Other assets, net” on the accompanying Consolidated Balance Sheets for the years ended December 31, 2022 and 2021 (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31, 2022 | ​ | December 31, 2021
​ |  | Cost of |  | Accumulated | ​ | Net | ​ | Cost of |  | Accumulated |  | Net
​ | ​ | Intangibles | ​ | Amortization | ​ | Intangibles | ​ | Intangibles | ​ | Amortization | ​ | Intangibles
Finite-lived intangible assets: |  | ​ |  |  | ​ |  | ​ | ​ |  | ​ | ​ |  |  | ​ |  |  | ​ |
Trade names (1) | ​ | $ | 8,532 | ​ | $ | (5,532) | ​ | $ | 3,000 | ​ | $ | 8,110 | ​ | $ | (3,553) | ​ | $ | 4,557
Non-compete agreements (2) | ​ | ​ | 7,010 | ​ | ​ | (5,965) | ​ | ​ | 1,045 | ​ | ​ | 6,915 | ​ | ​ | (4,275) | ​ | ​ | 2,640
Other intangible assets (3) | ​ | ​ | 12,446 | ​ | ​ | (6,406) | ​ | ​ | 6,040 | ​ | ​ | 11,832 | ​ | ​ | (4,181) | ​ | ​ | 7,651
Total finite-lived intangible assets | ​ | ​ | 27,988 | ​ | ​ | (17,903) | ​ | ​ | 10,085 | ​ | ​ | 26,857 | ​ | ​ | (12,009) | ​ | ​ | 14,848
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Indefinite-lived intangible assets: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Trade names | ​ | ​ | 36,134 | ​ | ​ | — | ​ | ​ | 36,134 | ​ | ​ | 34,348 | ​ | ​ | — | ​ | ​ | 34,348
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total intangible assets | ​ | $ | 64,122 | ​ | $ | (17,903) | ​ | $ | 46,219 | ​ | $ | 61,205 | ​ | $ | (12,009) | ​ | $ | 49,196
(1) | Weighted-average remaining useful life of approximately 3.1 years as of December 31, 2022.
(2) | Weighted-average remaining useful life of approximately 1.6 years as of December 31, 2022.
(3) | Includes internally-developed software and customer relationships and has an estimated weighted-average remaining useful life of approximately 6.9 years as of December 31, 2022.
​ During the years ended December 31, 2022 and 2021, the Company recorded non-compete agreement assets in conjunction with small acquisitions in the amount of less than $0.1 million. Other than the non-compete agreement assets, the Company did not record additional finite-lived or indefinite-lived intangible assets during the year ended December 31, 2022 and 2021. For the years ended December 31, 2022, 2021 and 2020, the Company recorded aggregate amortization expense related to its intangible assets in the amounts of $4.8 million, $4.9 million and $5.3 million, respectively. ​ Indefinite-lived intangible assets, such as trade names, are reviewed for impairment annually during the fourth quarter, or more frequently if events or changes in circumstances indicate that impairment may exist. The Company did not record any indefinite-lived intangible asset impairment during the years ended December 31, 2022, 2021 or 2020. ​ The following table identifies the estimated amortization expense of the Company’s intangibles for each of the next five years, and the aggregate thereafter, and reconciles to net, finite-lived intangible assets included in “Other assets, net” on the accompanying Consolidated Balance Sheets as of December 31, 2022 (in thousands): ​
​ | ​ | ​ | ​
​ | ​ | December 31, 2022
​ |  | Amortization Expense
2023 | ​ | $ | 2,787
2024 | ​ |  | 1,436
2025 | ​ |  | 1,429
2026 | ​ |  | 1,405
2027 | ​ |  | 1,269
Thereafter | ​ | ​ | 1,759
Total net, finite-lived intangible assets | ​ | $ | 10,085
​ ​

X
- References No definition available. + Details
Name: | us-gaap_GoodwillAndIntangibleAssetsDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -URI https://asc.fasb.org/topic&trid=2144416 + Details
Name: | us-gaap_GoodwillAndIntangibleAssetsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration