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GOODWILL AND INTANGIBLE ASSETS | 3 Months Ended
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Mar. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract] |
GOODWILL AND INTANGIBLE ASSETS | GOODWILL AND INTANGIBLE ASSETS The activity in goodwill by segment for the three months ended March 31, 2024 was as follows:
|  | December 31, 2023 |  |  |  |  |  | Currency Translation |  | March 31, 2024
|  | (In thousands)
U.S. |  | $ | 41,936 |  |  |  |  |  |  | $ | — |  |  | $ | 41,936 |
Europe |  | 1,116,521 |  |  |  |  |  |  | (11,540) |  |  | 1,104,981 |
Mexico |  | 127,804 |  |  |  |  |  |  | — |  |  | 127,804 |
Total |  | $ | 1,286,261 |  |  |  |  |  |  | $ | (11,540) |  |  | $ | 1,274,721 |
Intangible assets consisted of the following:
|  | December 31, 2023 |  |  |  | Amortization |  | Currency Translation |  | March 31, 2024
|  | (In thousands)
Cost: |  |  |  |  |  |  |  |  |  |
Trade names not subject to amortization |  | $ | 580,473 |  |  |  |  | $ | — |  |  | $ | (5,644) |  |  | $ | 574,829 |
Trade names subject to amortization |  | 112,681 |  |  |  |  | — |  |  | (382) |  |  | 112,299 |
Customer relationships |  | 441,719 |  |  |  |  | — |  |  | (3,316) |  |  | 438,403 |
Accumulated amortization: |  |  |  |  |  |  |  |  |  |
Trade names |  | (57,762) |  |  |  |  | (970) |  |  | 52 |  |  | (58,680) |
Customer relationships |  | (223,128) |  |  |  |  | (7,145) |  |  | 1,169 |  |  | (229,104) |
Intangible assets, net |  | $ | 853,983 |  |  |  |  | $ | (8,115) |  |  | $ | (8,121) |  |  | $ | 837,747 |
Intangible assets are amortized over the estimated useful lives of the assets as follows:
Customer relationships | 3-18 years
Trade names subject to amortization | 15-20 years
At March 31, 2024, the Company assessed if events or changes in circumstances indicated that the asset group-level carrying amounts of its intangible assets subject to amortization might not be recoverable. There were no indicators present that required the Company to test the recoverability of the asset group-level carrying amounts of its intangible assets subject to amortization at that date. The Company will perform its annual tests of recoverability of goodwill and trade names not subject to amortization in the fourth quarter of 2024, which if there were to be an impairment could be material.

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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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