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Goodwill and Intangible Assets (Tables) | 12 Months Ended
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Dec. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract] |
Schedule of Changes in Goodwill | The changes in the carrying amount of the Company’s goodwill by reportable segment for the years ended December 31, 2021, 2020 and 2019 are as follows:
| Warehouse | Third-party managed | Transportation | Unallocated Acquisitions | Total
| (In thousands)
December 31, 2018 | $ | 170,896 |  | $ | 2,890 |  | $ | 12,309 |  | — |  | $ | 186,095 |
Goodwill acquired | 130,919 |  | — |  | 1,452 |  | — |  |
Impact of foreign currency translation | 9 |  | (8) |  | 16 |  | — |  | 17 |
December 31, 2019 | 301,824 |  | 2,882 |  | 13,777 |  | — |  | 318,483 |
Goodwill acquired | 116,275 |  | — |  | 8,546 |  | 346,673 |  | 471,494 |
Purchase price allocation adjustments | 1,115 |  | — |  | — |  | — |  | 1,115 |
Impact of foreign currency translation | 2,513 |  | 379 |  | 351 |  | — |  | 3,243 |
December 31, 2020 | 421,727 |  | 3,261 |  | 22,674 |  | 346,673 |  | 794,335 |
Goodwill acquired | 92,849 |  | — |  | 700 |  | — |  | 93,549 |
Purchase price allocation adjustments | 541,872 |  | — |  | 6,746 |  | (346,673) |  | 201,945 |
Impact of foreign currency translation | (16,333) |  | (50) |  | (466) |  | — |  | (16,849) |
December 31, 2021 | $ | 1,040,115 |  | $ | 3,211 |  | $ | 29,654 |  | $ | — |  | $ | 1,072,980 |
Schedule of Intangible Assets Not Subject to Amortization | Intangible assets subject to amortization as of December 31, 2021 and 2020 are as follows:
| Customer relationships | Above-market leases | In-place lease | Below-market leases | Assembled Workforce | Trade names and trademarks | Total
| (In thousands, except years)
Gross - January 1, 2021 | $ | 830,198 |  | $ | 143 |  | $ | 3,778 |  | $ | 9,126 |  | $ | 1,047 |  | $ | 1,623 |  | $ | 845,915 |
Additions | 301,427 |  | — |  | — |  | — |  | — |  | — |  | 301,427 |
Purchase Price Allocation Adjustments | (69,973) |  | — |  | — |  | — |  | — |  | — |  | (69,973) |
Foreign currency translation | (9,501) |  | — |  | — |  | — |  | — |  | — |  | (9,501) |
Reclassification to Operating lease right-of-use asset | — |  | (47) |  | — |  | (3,079) |  | — |  | — |  | (3,126) |
Accumulated amortization | (87,565) |  | (96) |  | (2,726) |  | (6,047) |  | (795) |  | (1,623) |  | (98,852) |
Net definite lived intangible assets | $ | 964,586 |  | $ | — |  | $ | 1,052 |  | $ | — |  | $ | 252 |  | $ | — |  | 965,890 |
Indefinite lived intangible asset (Trade name) |  |  |  |  | 15,076 |
Identifiable intangible assets – net, December 31, 2021 |  |  |  | $ | 980,966 |
Weighted-average remaining useful life at December 31, 2021 | 28.0 | N/A | 1.8 | N/A | 1.1 | N/A | 28.0
Gross - January 1, 2020 | $ | 300,421 |  | $ | 143 |  | $ | 3,778 |  | $ | 9,126 |  | $ | 908 |  | $ | 1,623 |  | $ | 315,999 |
Additions | 528,518 |  | — |  | — |  | — |  | 139 |  | — |  | 528,657 |
Foreign currency translation | 1,260 |  | — |  | — |  | — |  | — |  | — |  | 1,260 |
Accumulated amortization | (53,321) |  | (81) |  | (2,152) |  | (5,945) |  | (447) |  | (1,623) |  | (63,569) |
Net definite lived intangible assets | $ | 776,878 |  | $ | 62 |  | $ | 1,626 |  | $ | 3,181 |  | $ | 600 |  | $ | — |  | 782,347 |
Indefinite lived intangible asset (Trade name) |  |  |  |  | 15,076 |
Identifiable intangible assets – net, December 31, 2020 |  |  |  | $ | 797,423 |
Weighted-average remaining useful life at December 31, 2020 | 24.3 | 2.8 | 2.8 | 32.2 | 1.9 | N/A | 24.3
Schedule of Intangible Assets Subject to Amortization | Intangible assets subject to amortization as of December 31, 2021 and 2020 are as follows:
| Customer relationships | Above-market leases | In-place lease | Below-market leases | Assembled Workforce | Trade names and trademarks | Total
| (In thousands, except years)
Gross - January 1, 2021 | $ | 830,198 |  | $ | 143 |  | $ | 3,778 |  | $ | 9,126 |  | $ | 1,047 |  | $ | 1,623 |  | $ | 845,915 |
Additions | 301,427 |  | — |  | — |  | — |  | — |  | — |  | 301,427 |
Purchase Price Allocation Adjustments | (69,973) |  | — |  | — |  | — |  | — |  | — |  | (69,973) |
Foreign currency translation | (9,501) |  | — |  | — |  | — |  | — |  | — |  | (9,501) |
Reclassification to Operating lease right-of-use asset | — |  | (47) |  | — |  | (3,079) |  | — |  | — |  | (3,126) |
Accumulated amortization | (87,565) |  | (96) |  | (2,726) |  | (6,047) |  | (795) |  | (1,623) |  | (98,852) |
Net definite lived intangible assets | $ | 964,586 |  | $ | — |  | $ | 1,052 |  | $ | — |  | $ | 252 |  | $ | — |  | 965,890 |
Indefinite lived intangible asset (Trade name) |  |  |  |  | 15,076 |
Identifiable intangible assets – net, December 31, 2021 |  |  |  | $ | 980,966 |
Weighted-average remaining useful life at December 31, 2021 | 28.0 | N/A | 1.8 | N/A | 1.1 | N/A | 28.0
Gross - January 1, 2020 | $ | 300,421 |  | $ | 143 |  | $ | 3,778 |  | $ | 9,126 |  | $ | 908 |  | $ | 1,623 |  | $ | 315,999 |
Additions | 528,518 |  | — |  | — |  | — |  | 139 |  | — |  | 528,657 |
Foreign currency translation | 1,260 |  | — |  | — |  | — |  | — |  | — |  | 1,260 |
Accumulated amortization | (53,321) |  | (81) |  | (2,152) |  | (5,945) |  | (447) |  | (1,623) |  | (63,569) |
Net definite lived intangible assets | $ | 776,878 |  | $ | 62 |  | $ | 1,626 |  | $ | 3,181 |  | $ | 600 |  | $ | — |  | 782,347 |
Indefinite lived intangible asset (Trade name) |  |  |  |  | 15,076 |
Identifiable intangible assets – net, December 31, 2020 |  |  |  | $ | 797,423 |
Weighted-average remaining useful life at December 31, 2020 | 24.3 | 2.8 | 2.8 | 32.2 | 1.9 | N/A | 24.3
Schedule of Estimated Amortization of Intangible Assets | The following table describes the estimated amortization of definite-lived intangible assets for the next five years.
| Estimated Amortization of Intangible Assets |  |  |
| (In thousands)
Years Ending December 31: |  |  |  |
2022 | $ | 38,572 |  |  |  |
2023 | 38,387 |  |  |  |
2024 | 37,820 |  |  |  |
2025 | 37,732 |  |  |  |
2026 | 36,711 |  |  |  |
Total | $ | 189,222 |  |  |  |

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