Goodwill, Trade Name, and Customer Lists

12 Months Ended

Dec. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill, Trade Name, and Customer Lists

Note 5. Goodwill, Trade Names, Customer Lists, and Other Intangible Assets

The changes in the carrying amount of goodwill for the years ended December 31, 2023 and 2022 by reportable segment were as follows (in thousands):


	Americas			International			Total
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
Acquisition		26,519			—			26,519
Foreign currency translation		107			948			1,055
Balance – December 31, 2023	$	703,797		$	116,857		$	820,654

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


	December 31, 2023
	Gross Carrying Value		Accumulated Amortization			Net Carrying Value		Useful Life (in years)
Trade names	$	96,321	$	(30,092	)	$	66,229	20 years
Customer lists		520,105		(244,577	)		275,528	13-14 years
Other intangible assets		2,400		(143	)		2,257	5 years
Total	$	618,826	$	(274,812	)	$	344,014


	December 31, 2022
	Gross Carrying Value		Accumulated Amortization			Net Carrying Value		Useful Life (in years)
Trade names	$	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 names, customer lists, and other intangible assets was approximately $62.1 million, $68.3 million, and $73.5 million, for the years ended December 31, 2023, 2022, and 2021, respectively.

Amortization expense relating to trade names, customer lists, and other intangible assets is expected to be as follows (in thousands):


Years Ending December 31,
2024	$	57,413
2025		51,031
2026		44,006
2027		37,325
2028		32,697
Thereafter		121,542
	$	344,014