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Goodwill and Intangible Assets | 9 Months Ended
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Sep. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Intangible Assets | Goodwill and Intangible Assets Goodwill Changes in the carrying amount of goodwill by segment for the nine months ended September 30, 2023 were as follows (in thousands):
|  | Aviation |  | Fleet |  | Total
Balance as of December 31, 2022 |  | $ | 154,072 |  |  | $ | 63,190 |  |  | $ | 217,262 |
Acquisitions |  | 128,464 |  |  | — |  |  | 128,464 |
Balance as of September 30, 2023 |  | $ | 282,536 |  |  | $ | 63,190 |  |  | $ | 345,726 |
Goodwill increased during the nine months ended September 30, 2023 in connection with the acquisitions 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
September 30, 2023 |  |  |  |  |  |
Contract and customer-related |  | $ | 242,190 |  |  | $ | (123,675) |  |  | $ | 118,515 |
Trade names |  | 8,670 |  |  | (8,320) |  |  | 350 |
Total |  | $ | 250,860 |  |  | $ | (131,995) |  |  | $ | 118,865 |
December 31, 2022 |  |  |  |  |  |
Contract and customer-related |  | $ | 199,140 |  |  | $ | (113,796) |  |  | $ | 85,344 |
Trade names |  | 8,670 |  |  | (7,456) |  |  | 1,214 |
Total |  | $ | 207,810 |  |  | $ | (121,252) |  |  | $ | 86,558 |
The gross carrying amount of contract and customer-related intangibles increased during the nine months ended September 30, 2023 in connection with the acquisitions during the period as discussed in Note (2) "Acquisitions." As of September 30, 2023, the estimated future annual amortization expense related to intangible assets is as follows (in thousands):
Year Ending |  | Amount
Remainder of 2023 |  | $ | 3,654 |
2024 |  | 13,450 |
2025 |  | 13,388 |
2026 |  | 13,264 |
2027 |  | 11,517 |
Thereafter |  | 63,592 |
Total |  | $ | 118,865 |

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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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