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GOODWILL AND INTANGIBLE ASSETS

12 Months Ended

Dec. 31, 2022

6.	GOODWILL AND INTANGIBLE ASSETS

Goodwill by segment consists of the following as of December 31, 2022 and 2021:


	Ocean
(In millions)	Transportation		Logistics		Total
Goodwill	$	222.6	$	105.2	$	327.8

Logistics goodwill of $105.2 million includes $78.6 million acquired as part of the acquisition of Span Intermediate, LLC (“Span Alaska”) in August 2016 that was allocated to the Span Alaska reporting unit, and $26.6 million relates to other Logistics acquisitions that were allocated to the Logistics reporting unit.

Intangible assets by segment consist of the following as of December 31, 2022 and 2021:


	As of December 31, 2022						As of December 31, 2021
	Gross		Accumulated				Gross		Accumulated
(In millions)	Amount		Amortization		Net Book Value		Amount		Amortization		Net Book Value
Ocean Transportation - Customer relationships	$	140.6	$	51.2	$	89.4	$	140.6	$	44.6	$	96.0
Logistics:
Customer relationships		95.3		37.1		58.2		90.1		32.3		57.8
Trade name		27.3		—		27.3		27.3		—		27.3
Total Logistics		122.6		37.1		85.5		117.4		32.3		85.1
Total	$	263.2	$	88.3	$	174.9	$	258.0	$	76.9	$	181.1

Ocean Transportation intangible assets of $140.6 million relate to customer relationships acquired as part of the acquisition of Horizon Lines, Inc. (“Horizon”) on May 29, 2015, and are being amortized over 21 years. Logistics intangible assets include $79.3 million of customer relationships which are being amortized over 20 years, and $27.3 million of an indefinite life trade name, both acquired as part of the Span Alaska acquisition. The remaining Logistics customer relationships of $16.0 million are being amortized over a period of 3 to 13 years.

Intangible assets related amortization expense for 2022, 2021 and 2020, are as follows:


	Years Ended December 31,
(In millions)	2022		2021		2020
Amortization expense	$	11.4	$	10.9	$	10.9

As of December 31, 2022, estimated amortization expense related to customer relationship intangible assets during the next five years and thereafter are as follows:


	Customer
Year (in millions)	Relationships
2023	$	12.4
2024		12.4
2025		11.5
2026		10.7
2027		10.7
Thereafter		89.9
Total	$	147.6