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Goodwill and Intangible Assets | 12 Months Ended
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Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Intangible Assets | Goodwill and Intangible Assets Goodwill Changes in goodwill for the years ended December 31, 2023 and 2022 by operating segment were as follows (in thousands):
| Fleet |  | Aviation |  | Total
Balance as of December 31, 2021 | $ | 63,190 |  |  | $ | 154,072 |  |  | $ | 217,262 |
Balance as of December 31, 2022 | $ | 63,190 |  |  | $ | 154,072 |  |  | $ | 217,262 |
Goodwill acquired | — |  |  | 134,519 |  |  | 134,519 |
Balance as of December 31, 2023 | $ | 63,190 |  |  | $ | 288,591 |  |  | $ | 351,781 |
Goodwill increased during the year ended December 31, 2023 in connection with acquisitions completed during the period as discussed in Note (2) "Acquisitions." There were no impairments of goodwill during the years ended December 31, 2023, 2022 and 2021. Intangible Assets Intangible assets consisted of the following (in thousands):
| Cost |  | Accumulated Amortization |  | Net Intangible Assets
December 31, 2023 |  |  |  |  |
Contract and customer-related | $ | 241,090 |  |  | $ | (127,022) |  |  | $ | 114,068 |
Trade names | 8,670 |  |  | (8,608) |  |  | 62 |
Total | $ | 249,760 |  |  | $ | (135,630) |  |  | $ | 114,130 |
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 increase in the gross carrying amount of contract and customer-related intangibles during the year ended December 31, 2023 relates to customer relationship intangible assets recognized in connection with acquisitions completed during the year as discussed in Note (2) "Acquisitions." There were no impairment losses during the years ended December 31, 2023, 2022 and 2021. The weighted-average useful life for all intangible assets of December 31, 2023 is 13.9 years. The estimated future annual amortization expense related to intangible assets are as follows (in thousands):
Year Ending December 31, |
2024 | $ | 13,313 |
2025 | 13,278 |
2026 | 13,154 |
2027 | 11,407 |
2028 | 10,574 |
Thereafter | 52,404 |
Total | $ | 114,130 |

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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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