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GOODWILL AND OTHER INTANGIBLE ASSETS | 3 Months Ended
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Mar. 31, 2025
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, 2024(1) | $ | 1,179,444 |  |  | $ | 202,498 |  |  | $ | 75,617 |  |  | $ | 1,457,559 |
Foreign currency translation | 1,350 |  |  | 1,759 |  |  | 165 |  |  | 3,274 |
Divestitures(2) | — |  |  | — |  |  | (28,697) |  |  | (28,697) |
Balance, March 31, 2025 | $ | 1,180,794 |  |  | $ | 204,257 |  |  | $ | 47,085 |  |  | $ | 1,432,136 |
_________________________________________ (1) Includes $28.6 million of goodwill for the Europe Surface Transportation disposal group, which is presented within assets held for sale on the condensed consolidated balance sheets as of December 31, 2024. Refer to Note 14, Divestitures, for further discussion related to the sale of our Europe Surface Transportation business. (2) On February 1, 2025, the Company completed the sale of our Europe Surface Transportation business. In connection with the sale, we disposed of goodwill included in the Europe Surface Transportation disposal group. Refer to Note 14, Divestitures, for further discussion related to the sale of our Europe Surface Transportation business. 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 2024 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. Excluding the sale of our Europe Surface Transportation business on February 1, 2025 and the corresponding goodwill disposal, no changes in circumstances or events were identified in the first quarter of 2025 that would indicate an interim impairment analysis was required for any of our remaining reporting units as of March 31, 2025. Identifiable intangible assets consisted of the following (in thousands):
| March 31, 2025 |  | December 31, 2024
| Cost |  | Accumulated Amortization |  | Net |  | Cost |  | Accumulated Amortization |  | Net
Finite-lived intangibles |  |  |  |  |  |  |  |  |  |  |
Customer relationships(1) | $ | 78,896 |  |  | $ | (59,054) |  |  | $ | 19,842 |  |  | $ | 78,280 |  |  | $ | (55,984) |  |  | $ | 22,296 |
Divestitures(2) | (7,336) |  |  | 4,629 |  |  | (2,707) |  |  | — |  |  | — |  |  | — |
Total finite-lived intangibles | 71,560 |  |  | (54,425) |  |  | 17,135 |  |  | 78,280 |  |  | (55,984) |  |  | 22,296 |
Indefinite-lived intangibles |  |  |  |  |  |  |  |  |  |  |
Trademarks | 8,600 |  |  | — |  |  | 8,600 |  |  | 8,600 |  |  | — |  |  | 8,600 |
Total intangibles | $ | 80,160 |  |  | $ | (54,425) |  |  | $ | 25,735 |  |  | $ | 86,880 |  |  | $ | (55,984) |  |  | $ | 30,896 |
_________________________________________ (1) Includes $2.7 million of net intangible assets for the Europe Surface Transportation disposal group, which is presented within assets held for sale on the condensed consolidated balance sheets as of December 31, 2024. Refer to Note 14, Divestitures, for further discussion related to the sale of our Europe Surface Transportation business. (2) On February 1, 2025, the Company completed the sale of our Europe Surface Transportation business. In connection with the sale, we disposed of customer relationship intangible assets included in the Europe Surface Transportation disposal group. Refer to Note 14, Divestitures, for further discussion related to the sale of our Europe Surface Transportation business. Amortization expense for other intangible assets is as follows (in thousands):
|  |  | Three Months Ended March 31,
|  |  |  |  | 2025 |  | 2024
Amortization expense |  |  |  |  | $ | 2,537 |  |  | $ | 3,313 |
Finite-lived intangible assets, by reportable segment, as of March 31, 2025, will be amortized over their remaining lives as follows (in thousands):
| NAST |  | Global Forwarding |  |  |  | Total
Remainder of 2025 | $ | 5,893 |  |  | $ | 1,702 |  |  |  |  | $ | 7,595 |
2026 | 7,857 |  |  | 373 |  |  |  |  | 8,230 |
2027 | 1,310 |  |  | — |  |  |  |  | 1,310 |
Total |  |  |  |  |  |  | $ | 17,135 |

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-30/tableOfContent Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-20/tableOfContent + Details
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