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Goodwill and Intangible Assets | 3 Months Ended
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Mar. 31, 2024
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 three months ended March 31, 2024 were as follows (in thousands):
|  | Aviation |  | Fleet |  | Total
Balance as of December 31, 2023 |  | $ | 288,591 |  |  | $ | 63,190 |  |  | $ | 351,781 |
Measurement period adjustment |  | (669) |  |  | — |  |  | (669) |
Balance as of March 31, 2024 |  | $ | 287,922 |  |  | $ | 63,190 |  |  | $ | 351,112 |
Goodwill decreased during the three months ended March 31, 2024 in connection with a measurement period adjustment for the Desser Aerospace acquisition discussed in Note (2) "Acquisitions." Intangible Assets Intangible assets consisted of the following (in thousands):
|  | Cost |  | Accumulated Amortization |  | Net Intangible Assets
March 31, 2024 |  |  |  |  |  |
Contract and customer-related |  | $ | 171,690 |  |  | $ | (60,941) |  |  | $ | 110,749 |
Trade names |  | 8,670 |  |  | (8,670) |  |  | — |
Total |  | $ | 180,360 |  |  | $ | (69,611) |  |  | $ | 110,749 |
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 |
Intangible assets with a cost of $69.4 million were fully amortized and are no longer reflected in the intangible asset values as of March 31, 2024. As of March 31, 2024, the estimated future annual amortization expense related to intangible assets is as follows (in thousands):
Year Ending |  | Amount
Remainder of 2024 |  | $ | 9,958 |
2025 |  | 13,278 |
2026 |  | 13,154 |
2027 |  | 11,407 |
2028 |  | 10,574 |
Thereafter |  | 52,378 |
Total |  | $ | 110,749 |

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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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