Goodwill, Trade Name, and Customer Lists

9 Months Ended

Sep. 30, 2023

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, 2023 by reportable segment were as follows (in thousands):


	Americas		International			Total
Balance – December 31, 2022	$	677,171	$	115,909		$	793,080
Acquisition		28,100		—			28,100
Foreign currency translation		87		(297	)		(210	)
Balance – September 30, 2023	$	705,358	$	115,612		$	820,970

The following summarizes the gross carrying value and accumulated amortization for the Company’s trade name and customer lists as of September 30, 2023 and December 31, 2022 (in thousands):


	September 30, 2023
	Gross Carrying Value		Accumulated Amortization			Net Carrying Value		Useful Life (in years)
Trade name	$	93,880	$	(28,190	)	$	65,690	20 years
Customer lists		522,063		(230,504	)		291,559	13-14 years
Total	$	615,943	$	(258,694	)	$	357,249


	December 31, 2022
	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

Amortization expense of trade name and customer lists was approximately $15.5 million and $17.0 million for the three months ended September 30, 2023 and 2022, respectively. Amortization expense of trade name and customer lists was approximately $46.3 million and $51.3 million for the nine months ended September 30, 2023 and 2022, respectively. Trade name and customer lists are amortized on an accelerated basis based upon their estimated useful life.