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