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Goodwill and Intangible Assets

3 Months Ended

Mar. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill

Changes in the carrying amount of goodwill by segment for the three months ended March 31, 2023 were as follows (in thousands):


	Aviation		Fleet		Federal and Defense		Total
Balance as of December 31, 2022	$	154,072	$	63,190	$	31,575	$	248,837
Acquisitions	4,743		—		—		4,743
Balance as of March 31, 2023	$	158,815	$	63,190	$	31,575	$	253,580

Goodwill increased during the three months ended March 31, 2023 in connection with the acquisition during the period as discussed in Note (2) "Acquisitions."

Intangible Assets

Intangible assets consisted of the following (in thousands):


	Gross carrying value		Accumulated amortization		Net carrying value
March 31, 2023
Contract and customer-related	$	210,091	$	(120,953)	$	89,138

Trade names	8,670		(7,744)		926
Total	$	218,761	$	(128,697)	$	90,064

December 31, 2022
Contract and customer-related	$	206,291	$	(116,881)	$	89,410

Trade names	8,670		(7,456)		1,214
Total	$	214,961	$	(124,337)	$	90,624

The gross carrying amount of contract and customer-related intangibles increased during the three months ended March 31, 2023 in connection with the acquisition during the period as discussed in Note (2) "Acquisitions."

As of March 31, 2023, the estimated future annual amortization expense related to intangible assets is as follows (in thousands):


Year Ending
Remainder of 2023	$	9,976
2024	10,819
2025	9,775
2026	8,950
2027	7,204
Thereafter	43,340
Total	$	90,064