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Goodwill and Intangible Assets | 12 Months Ended
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Dec. 31, 2023
Goodwill and Intangible Assets |
Goodwill and Intangible Assets | 2. 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. As of the first day of the fourth quarters of 2023, 2022, and 2021, the company’s annual impairment testing did not result in any additional impairment of goodwill of companies acquired. Goodwill of companies acquired, allocated to the company’s reportable segments, is as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Global |  | ​ |  | ​
(thousands) | ​ | Components | ​ | Global ECS | ​ | Total
Balance as of December 31, 2021 (a) | ​ | $ | 882,948 | ​ | $ | 1,197,423 | ​ | $ | 2,080,371
Foreign currency translation adjustment | ​ |  | (9,945) | ​ |  | (42,800) | ​ |  | (52,745)
Balance as of December 31, 2022 (a) | ​ | $ | 873,003 | ​ | $ | 1,154,623 | ​ | $ | 2,027,626
Foreign currency translation adjustment | ​ |  | 2,191 | ​ |  | 20,609 | ​ |  | 22,800
Balance as of December 31, 2023 (a) | ​ | $ | 875,194 | ​ | $ | 1,175,232 | ​ | $ | 2,050,426
(a) | The total carrying value of goodwill as of December 31, 2023, 2022, and 2021 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 reportable segment and $301.9 million was recorded in the global ECS reportable segment.
Intangible assets, net, are comprised of the following as of December 31, 2023: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Gross |  | ​ |  | ​
​ | ​ | Carrying | ​ | Accumulated | ​ | ​
(thousands) | ​ | Amount | ​ | Amortization | ​ | Net
Customer relationships | ​ | $ | 258,337 | ​ | $ | (156,141) | ​ | $ | 102,196
Amortizable trade name | ​ |  | 73,811 | ​ |  | (48,567) | ​ |  | 25,244
​ | ​ | $ | 332,148 | ​ | $ | (204,708) | ​ | $ | 127,440
​ 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
​ Amortization expense related to identifiable intangible assets was $31.2 million, $34.7 million, and $36.9 million for the years ended December 31, 2023, 2022, and 2021, respectively. Amortization expense for each of the years 2024 through 2028 is estimated to be approximately $29.5 million, $20.3 million, $19.5 million, $18.9 million, and $11.2 million, respectively.

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