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GOODWILL AND OTHER INTANGIBLE ASSETS | 3 Months Ended
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Mar. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract] |
GOODWILL AND OTHER INTANGIBLE ASSETS | GOODWILL AND OTHER INTANGIBLE ASSETS The change in carrying amount of goodwill is as follows (in thousands):
| NAST |  | Global Forwarding |  | All Other and Corporate |  | Total
Balance, December 31, 2023 | $ | 1,188,813 |  |  | $ | 207,599 |  |  | $ | 77,188 |  |  | $ | 1,473,600 |
Foreign currency translation | (4,261) |  |  | (1,681) |  |  | (640) |  |  | (6,582) |
Balance, March 31, 2024 | $ | 1,184,552 |  |  | $ | 205,918 |  |  | $ | 76,548 |  |  | $ | 1,467,018 |
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 2023 annual impairment test, we determined that the fair value of our reporting units exceeded their respective carrying values and our goodwill balance was not impaired. No changes in circumstances or events in the first quarter of 2024 indicated that an interim impairment test was required as of March 31, 2024. Identifiable intangible assets consisted of the following (in thousands):
| March 31, 2024 |  | December 31, 2023
| Cost |  | Accumulated Amortization |  | Net |  | Cost |  | Accumulated Amortization |  | Net
Finite-lived intangibles |  |  |  |  |  |  |  |  |  |  |
Customer relationships | $ | 92,663 |  |  | $ | (61,136) |  |  | $ | 31,527 |  |  | $ | 93,499 |  |  | $ | (58,437) |  |  | $ | 35,062 |
Indefinite-lived intangibles |  |  |  |  |  |  |  |  |  |  |
Trademarks | 8,600 |  |  | — |  |  | 8,600 |  |  | 8,600 |  |  | — |  |  | 8,600 |
Total intangibles | $ | 101,263 |  |  | $ | (61,136) |  |  | $ | 40,127 |  |  | $ | 102,099 |  |  | $ | (58,437) |  |  | $ | 43,662 |
Amortization expense for other intangible assets is as follows (in thousands):
|  |  | Three Months Ended March 31,
|  |  |  |  | 2024 |  | 2023
Amortization expense |  |  |  |  | $ | 3,313 |  |  | $ | 5,815 |
Finite-lived intangible assets, by reportable segment, as of March 31, 2024, will be amortized over their remaining lives as follows (in thousands):
| NAST |  | Global Forwarding |  | All Other and Corporate |  | Total
Remainder of 2024 | $ | 5,987 |  |  | $ | 2,498 |  |  | $ | 814 |  |  | $ | 9,299 |
2025 | 7,857 |  |  | 2,297 |  |  | 1,086 |  |  | 11,240 |
2026 | 7,857 |  |  | 374 |  |  | 743 |  |  | 8,974 |
2027 | 1,310 |  |  | — |  |  | 497 |  |  | 1,807 |
2028 | — |  |  | — |  |  | 207 |  |  | 207 |
Total |  |  |  |  |  |  | $ | 31,527 |

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 350 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//350/tableOfContent + Details
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