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Goodwill and Other Intangible Assets (Tables) | 12 Months Ended
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Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract] |
Carrying Amount of Goodwill | The following table presents the carrying amount of Goodwill by segment (in thousands):
| ITS |  | Logistics |  | Consolidated |
Balance at December 31, 2021 | $ | 371,641 |  | $ | 205,272 |  | $ | 576,913 |
Acquisitions |  | - |  |  | 52,489 |  |  | 52,489 |
Balance at December 31, 2022 | $ | 371,641 |  | $ | 257,761 |  | $ | 629,402 |
Acquisitions |  | - |  |  | 104,293 |  |  | 104,293 |
Balance at December 31, 2023 | $ | 371,641 |  | $ | 362,054 |  | $ | 733,695 |
Components of Other Intangible Assets | The components of the "Other intangible assets” are as follows (in thousands):
|  |  |  |  | Net |  |
| Gross |  | Accumulated |  | Carrying |  |
As of December 31, 2023: | Amount |  | Amortization |  | Value |  | Life
Customer relationships | $ | 376,956 |  | $ | 92,827 |  | $ | 284,129 |  | 5-15 years
Carrier network and agent relationships |  | 15,000 |  |  | 8,563 |  |  | 6,437 |  | 4 years
Developed technology |  | 17,223 |  |  | 3,247 |  |  | 13,976 |  | 4-7 years
Trade name |  | 6,200 |  |  | 6,135 |  |  | 65 |  | 18 months
Consolidated Total | $ | 415,379 |  | $ | 110,772 |  | $ | 304,607 |  |
|  |  |  |  | Net |  |
| Gross |  | Accumulated |  | Carrying |  |
As of December 31, 2022: | Amount |  | Amortization |  | Value |  | Life
Customer relationships | $ | 249,223 |  | $ | 72,157 |  | $ | 177,066 |  | 5-15 years
Carrier network and agent relationships |  | 15,000 |  |  | 4,813 |  |  | 10,187 |  | 4 years
Developed technology |  | 10,500 |  |  | 1,449 |  |  | 9,051 |  | 4-7 years
Trade name |  | 6,200 |  |  | 5,118 |  |  | 1,082 |  | 18 months
Consolidated Total | $ | 280,923 |  | $ | 83,537 |  | $ | 197,386 |  |
Schedule of Amortization Expense | Amortization expense for the next five years is expected to be as follows (in thousands):
| Total |
Year 1 | $ | 34,448 |
Year 2 |  | 33,345 |
Year 3 |  | 30,645 |
Year 4 |  | 30,287 |
Year 5 |  | 27,385 |

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