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Goodwill, Trade Name, and Customer Lists (Tables)
12 Months Ended
Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Changes in Carrying Amount of Goodwill

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

 

Summary of Gross Carrying Value and Accumulated Amortization of Finite-Lived Intangible Assets

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

 

 

 

Schedule of Intangible Assets, Future Amortization Expense

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