XML 26 R12.htm IDEA: XBRL DOCUMENT
v3.22.4

Goodwill, Trade Name, and Customer Lists | 12 Months Ended
--- | ---
Dec. 31, 2022
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 year ended December 31, 2022 and 2021 (Successor) by reportable segment were as follows (in thousands):
|  | Americas |  |  | International |  |  | Total |
Successor: |  |  |  |  |  |  |  |  |
Balance – December 31, 2020 |  | $ | 645,309 |  |  | $ | 124,780 |  |  | $ | 770,089 |
Acquisitions |  |  | 22,714 |  |  |  | 3,120 |  |  |  | 25,834 |
Foreign currency translation |  |  | 25 |  |  |  | (2,056 | ) |  |  | (2,031 | )
Balance – December 31, 2021 |  | $ | 668,048 |  |  | $ | 125,844 |  |  | $ | 793,892 |
Acquisitions |  |  | 9,116 |  |  |  | — |  |  |  | 9,116 |
Adjustments to initial purchase price allocations |  |  | (35 | ) |  |  | — |  |  |  | (35 | )
Foreign currency translation |  |  | 42 |  |  |  | (9,935 | ) |  |  | (9,893 | )
Balance – December 31, 2022 |  | $ | 677,171 |  |  | $ | 115,909 |  |  | $ | 793,080 |
The following summarizes the gross carrying value and accumulated amortization for the Company’s trade name and customer lists as of December 31, 2022 and 2021 (Successor) (in thousands):
|  | December 31, 2022 (Successor)
|  | Gross Carrying Value |  |  | Accumulated Amortization |  |  | Net Carrying Value |  |  | Useful Life (in years)
Trade name |  | $ | 93,959 |  |  | $ | (22,797 | ) |  | $ | 71,162 |  |  | 20 years
Customer lists |  |  | 515,762 |  |  |  | (189,748 | ) |  |  | 326,014 |  |  | 13-14 years
Total |  | $ | 609,721 |  |  | $ | (212,545 | ) |  | $ | 397,176 |  |  |
|  | December 31, 2021 (Successor)
|  | Gross Carrying Value |  |  | Accumulated Amortization |  |  | Net Carrying Value |  |  | Useful Life (in years)
Trade name |  | $ | 95,026 |  |  | $ | (15,441 | ) |  | $ | 79,585 |  |  | 20 years
Customer lists |  |  | 515,524 |  |  |  | (130,758 | ) |  |  | 384,766 |  |  | 14 years
Total |  | $ | 610,550 |  |  | $ | (146,199 | ) |  | $ | 464,351 |  |  |
Amortization expense of trade name and customer lists was approximately $68.3 million, $73.5 million, $72.7 million, and $0.8 million for the year ended December 31, 2022 (Successor), for the year ended December 31, 2021 (Successor), for the period from February 1, 2020 through December 31, 2020 (Successor), and for the period from January 1, 2020 through January 31, 2020 (Predecessor) respectively. Amortization expense relating to trade name and customer lists is expected to be as follows (in thousands):
Years Ending December 31, |  |  |
2023 |  | $ | 61,992 |
2024 |  |  | 56,028 |
2025 |  |  | 49,722 |
2026 |  |  | 42,800 |
2027 |  |  | 36,226 |
Thereafter |  |  | 150,408 |
|  | $ | 397,176 |

X
- References No definition available. + Details
Name: | us-gaap_GoodwillAndIntangibleAssetsDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -URI https://asc.fasb.org/topic&trid=2144416 + Details
Name: | us-gaap_GoodwillAndIntangibleAssetsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration