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Goodwill and Intangible Assets | 9 Months Ended
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Sep. 30, 2023
Goodwill and Intangible Assets |
Goodwill and Intangible Assets | Note C – Goodwill and Intangible Assets Goodwill represents the excess of the cost of an acquisition over the fair value of the net assets acquired. The company tests goodwill and other indefinite-lived intangible assets for impairment annually as of the first day of the fourth quarter, or more frequently if indicators of potential impairment exist. Goodwill of companies acquired, allocated to the company’s business segments, is as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Global |  | ​ |  | ​
(thousands) | ​ | Components | ​ | Global ECS | ​ | Total
Balance as of December 31, 2022 (a) | ​ | $ | 873,003 | ​ | $ | 1,154,623 | ​ | $ | 2,027,626
Foreign currency translation adjustment | ​ |  | (3,875) | ​ |  | (1,764) | ​ |  | (5,639)
Balance as of September 30, 2023 (a) | ​ | $ | 869,128 | ​ | $ | 1,152,859 | ​ | $ | 2,021,987
(a) | The total carrying value of goodwill as of September 30, 2023, and December 31, 2022 in the table above is reflected net of $1.6 billion of accumulated impairment charges, of which $1.3 billion was recorded in the global components business segment and $302.9 million was recorded in the global enterprise computing solutions (“ECS”) business segment.
​ Intangible assets, net, are comprised of the following as of September 30, 2023:
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Gross |  | ​ |  | ​
​ | ​ | Carrying | ​ | Accumulated | ​ | ​
(thousands) | ​ | Amount | ​ | Amortization | ​ | Net
Customer relationships | ​ | $ | 263,968 | ​ | $ | (157,138) | ​ | $ | 106,830
Amortizable trade name | ​ |  | 74,006 | ​ |  | (46,025) | ​ |  | 27,981
​ | ​ | $ | 337,974 | ​ | $ | (203,163) | ​ | $ | 134,811
​ Intangible assets, net, are comprised of the following as of December 31, 2022:
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Gross |  | ​ |  | ​
​ | ​ | Carrying | ​ | Accumulated | ​ | ​
(thousands) | ​ | Amount | ​ | Amortization | ​ | Net
Customer relationships | ​ | $ | 268,180 | ​ | $ | (144,655) | ​ | $ | 123,525
Amortizable trade name | ​ |  | 74,011 | ​ |  | (38,399) | ​ |  | 35,612
​ | ​ | $ | 342,191 | ​ | $ | (183,054) | ​ | $ | 159,137
​ During the third quarter of 2023 and 2022, the company recorded amortization expense related to identifiable intangible assets of $7.9 million and $8.7 million, respectively. During the first nine months of 2023 and 2022, amortization expense related to identifiable intangible assets was $23.8 million and $26.5 million, respectively.

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