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Goodwill and Other Intangible Assets | 12 Months Ended
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Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Other Intangible Assets | Goodwill and Other Intangible Assets Goodwill Changes in the carrying amount of goodwill by operating segment for the years ended December 31, 2024 and 2023 were as follows (in thousands):
| Fleet |  | Aviation |  | Total
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 acquired | — |  |  | 140,804 |  |  | 140,804 |
Measurement period adjustments | — |  |  | (1,132) |  |  | (1,132) |
Balance as of December 31, 2024 | $ | 63,190 |  |  | $ | 428,263 |  |  | $ | 491,453 |
Goodwill increased during the year ended December 31, 2024 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, 2024, 2023 and 2022. Other Intangible Assets Intangible assets consisted of the following (in thousands):
| Cost |  | Accumulated Amortization |  | Net Intangible Assets
December 31, 2024 |  |  |  |  |
Contract and customer-related | $ | 272,590 |  |  | $ | (75,309) |  |  | $ | 197,281 |
Trade names | 8,670 |  |  | (8,670) |  |  | — |
Total | $ | 281,260 |  |  | $ | (83,979) |  |  | $ | 197,281 |
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 |
The gross carrying amount of contract and customer-related intangibles increased during the year ended December 31, 2024 in connection with acquisitions completed during the year as discussed in Note (2) "Acquisitions." This increase was partially offset by intangible assets with a cost of $69.4 million being fully amortized and no longer reflected in the intangible asset values as of December 31, 2024. There were no impairment losses during the years ended December 31, 2024, 2023 and 2022. The weighted-average useful life for all intangible assets as of December 31, 2024 is 12.2 years. The estimated future annual amortization expense related to intangible assets are as follows (in thousands):
Year Ending December 31, |
2025 | $ | 24,520 |
2026 | 24,349 |
2027 | 22,602 |
2028 | 21,768 |
2029 | 21,706 |
Thereafter | 82,336 |
Total | $ | 197,281 |

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-30/tableOfContent Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-20/tableOfContent + Details
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