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Note 9 - Goodwill and Intangible Assets

12 Months Ended

Dec. 31, 2023

Goodwill and Intangible Assets Disclosure [Text Block]

9.	Goodwill and Intangible Assets

The changes in the carrying amount of goodwill by reportable segment for the years ended December 31, 2023 and 2022 are as follows:

	*Domestic*			*International*			*Total*
Balance at December 31, 2021	$	995,444		$	414,230		$	1,409,674
Acquisitions of businesses, net		22,128			437			22,565
Foreign currency translation		(915	)		(30,444	)		(31,359	)
Balance at December 31, 2022		1,016,657			384,223			1,400,880
Acquisitions of businesses, net		1,376			5,363			6,739
Foreign currency translation		495			24,270			24,765
Balance at December 31, 2023	$	1,018,528		$	413,856		$	1,432,384

Refer to Note 3, “Acquisitions,” to the consolidated financial statements for further information regarding the Company’s acquisitions.

Goodwill applicable to each reportable segment at December 31, 2023 and 2022 is as follows:

	*Year Ended December 31, 2023*							*Year Ended December 31, 2022*
	Gross		Accumulated Impairment			Net		Gross		Accumulated Impairment			Net
Domestic	$	1,521,721	$	(503,193	)	$	1,018,528	$	1,519,850	$	(503,193	)	$	1,016,657
International		418,467		(4,611	)		413,856		388,834		(4,611	)		384,223
Total	$	1,940,188	$	(507,804	)	$	1,432,384	$	1,908,684	$	(507,804	)	$	1,400,880

The following table summarizes intangible assets by major category as of December 31, 2023 and 2022:

			December 31, 2023							December 31, 2022
	Weighted Average Amortization Years		Gross		Accumulated Amortization			Net Book Value		Gross		Accumulated Amortization			Net Book Value
Finite-lived intangible assets:
Tradenames		15	$	159,671	$	(70,997	)	$	88,674	$	157,751	$	(58,821	)	$	98,930
Customer lists		11		589,318		(404,805	)		184,513		577,203		(370,216	)		206,987
Patents and technology		14		670,099		(252,658	)		417,441		665,563		(210,806	)		454,757
Software		-		1,046		(1,046	)		-		1,046		(1,046	)		-
Non-compete/other		5		71,570		(44,443	)		27,127		70,585		(28,866	)		41,719
Total finite-lived intangible assets			$	1,491,704	$	(773,949	)	$	717,755	$	1,472,148	$	(669,755	)	$	802,393
Indefinite-lived tradenames				128,321		-			128,321		128,321		-			128,321
Total intangible assets			$	1,620,025	$	(773,949	)	$	846,076	$	1,600,469	$	(669,755	)	$	930,714

Amortization expense of intangible assets was $104,194, $103,320, and $49,886 in 2023, 2022 and 2021, respectively. Excluding the impact of future acquisitions, the Company estimates amortization expense for the next five years to be as follows: 2024 - $96,595; 2025 - $91,694; 2026 - $84,833; 2027 - $58,065; 2028 - $52,354.