GOODWILL AND OTHER INTANGIBLE ASSETS

9 Months Ended

Sep. 30, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

The change in carrying amount of goodwill is as follows (in thousands):


	NAST		Global Forwarding		All Other and Corporate		Total
Balance, December 31, 2022	$	1,188,076	$	206,189	$	76,548	$	1,470,813

Foreign currency translation	(4,416)		(710)		(368)		(5,494)
Balance, September 30, 2023	$	1,183,660	$	205,479	$	76,180	$	1,465,319

Goodwill is tested at least annually for impairment on November 30, or more frequently if events or changes in circumstances indicate that the asset might be impaired. We first perform a qualitative assessment to determine whether it is more likely than not that the fair value of our reporting units is less than their respective carrying value (“Step Zero Analysis”). If the Step Zero Analysis indicates it is more likely than not that the fair value of our reporting units is less than their respective carrying value, an additional impairment assessment is performed (“Step One Analysis”). As part of our Step Zero Analysis, we determined that more likely than not criteria had not been met, and therefore a Step One Analysis was not required as of September 30, 2023.

Identifiable intangible assets consisted of the following (in thousands):


	September 30, 2023						December 31, 2022
	Cost		Accumulated Amortization		Net		Cost		Accumulated Amortization		Net
Finite-lived intangibles
Customer relationships	$	92,322	$	(54,343)	$	37,979	$	162,358	$	(106,932)	$	55,426


Indefinite-lived intangibles
Trademarks	8,600		—		8,600		8,600		—		8,600
Total intangibles	$	100,922	$	(54,343)	$	46,579	$	170,958	$	(106,932)	$	64,026

Amortization expense for other intangible assets is as follows (in thousands):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2023		2022		2023		2022
Amortization expense	$	5,724	$	5,782	$	17,312	$	17,773

Finite-lived intangible assets, by reportable segment, as of September 30, 2023, will be amortized over their remaining lives as follows (in thousands):


	NAST		Global Forwarding		All Other and Corporate		Total
Remainder of 2023	$	2,021	$	1,007	$	266	$	3,294
2024	8,008		3,478		1,066		12,552
2025	7,857		2,256		1,066		11,179
2026	7,857		367		729		8,953
2027	1,310		—		488		1,798
Thereafter	—		—		203		203
Total							$	37,979