Goodwill, Trade Name, and Customer Lists

9 Months Ended

11 Months Ended

Sep. 30, 2021

Dec. 31, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill, Trade Name, and Customer Lists

Note 5. Goodwill, Trade Name, and Customer Lists

The changes in the carrying amount of goodwill for the nine months ended September 30, 2021 (Successor) were as follows (in thousands):


Successor:
Balance – December 31, 2020	$	770,089
Acquisitions		3,120
Foreign currency translation		(540	)

Balance – September 30, 2021	$	772,669

The following summarizes the gross carrying value and accumulated amortization for the Company’s trade name and customer lists as of September 30, 2021 (Successor) and December 31, 2020 (Successor) (in thousands):


	September 30, 2021 (Successor)
	Gross Carrying Value		Accumulated Amortization			Net Carrying Value		Useful Life (in years)
Trade name	$	95,171	$	(13,480	)	$	81,691		20 years
Customer lists		503,788		(114,572	)		389,216		14 years

Total	$	598,959	$	(128,052	)	$	470,907


	December 31, 2020 (Successor)
	Gross Carrying Value		Accumulated Amortization			Net Carrying Value		Useful Life (in years)
Trade name	$	95,230	$	(7,528	)	$	87,702		20 years
Customer lists		501,210		(65,549	)		435,661		14 years

Total	$	596,440	$	(73,077	)	$	523,363

Amortization expense of trade name and customer lists was approximately $18.4 million and $19.9 million for the three months ended

September

30, 2021 and 2020 (Successor), respectively. Amortization expense of trade name and customer lists was approximately $55.1 million, $52.8 million, and
$0.8 million for the

nine

months ended

September

30, 2021 (Successor), the period from February 1, 2020 through

September

30, 2020 (Successor), and the period from January 1, 2020 through January 31, 2020 (Predecessor), respectively.

6.	GOODWILL, TRADE NAME, AND CUSTOMER LISTS

The changes in the carrying amount of goodwill for the year ended December 31, 2019 (Predecessor), the period from January 1, 2020, through January 31, 2020 (Predecessor), and for the period from February 1, 2020 through December 31, 2020 (Successor) were as follows (in thousands):


Predecessor:
Balance – December 31, 2018	$	261,583
Foreign currency translation		7

Balance – December 31, 2019	$	261,590
Foreign currency translation		(61	)

Balance – January 31, 2020	$	261,529



Successor:
Balance – February 1, 2020	$	767,797
Foreign currency translation		2,292

Balance – December 31, 2020	$	770,089

The following summarizes the gross carrying value and accumulated amortization for the Company’s trade name and customer lists as of December 31 (in thousands):


	2019 (Predecessor)
	Gross Carrying Value		Accumulated Amortization			Net Carrying Value		Useful Life (in years)
Trade name	$	13,224	$	—		$	13,224		Indefinite
Customer lists		158,279		(105,710	)		52,569		7-14 years

Total	$	171,503	$	(105,710	)	$	65,793



	2020 (Successor)
	Gross Carrying Value		Accumulated Amortization			Net Carrying Value		Useful Life (in years)
Trade name	$	95,230	$	(7,528	)	$	87,702		20 years
Customer lists		501,210		(65,549	)		435,661		14 years

Total	$	596,440	$	(73,077	)	$	523,363

Amortization expense of trade name and customer lists was approximately $11.1 million, $0.8 million, and $72.7 million for the year ended December 31, 2019 (Predecessor), the period from January 1, 2020 through January 31, 2020 (Predecessor), and for the period from February 1, 2020 through December 31, 2020 (Successor), respectively.

Amortization expense relating to trade name and customer lists is expected to be as follows (in thousands):


Years Ending December 31,

2021	$	72,921
2022		66,184
2023		59,672
2024		53,759
2025		47,662
Thereafter		223,165

	$	523,363