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Goodwill and Intangible Assets, Net | 12 Months Ended
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Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Intangible Assets, Net | GOODWILL AND INTANGIBLE ASSETS, NET Goodwill, Net Our annual goodwill impairment review is performed during the fourth quarter each year-end using a quantitative approach. We tested goodwill for impairment at the reporting unit level utilizing the income approach which included a discounted cash flow method with a market approach. Based on our assessment during the fourth quarter ended December 31, 2023, one reporting unit had a fair value that was 2% less than the carrying value and we recorded a $1,644 goodwill impairment, which was $2,222 after taking into account the effect of deferred income taxes. The impairment was primarily driven by a decline in projected cash flows, including revenues and profitability. The impairment charges are included in the asset impairments within the consolidated statements of income for the year ended December 31, 2023. All other reporting units with goodwill had estimated fair values that exceeded their carrying values by at least 16% as of December 31, 2023 and 20% as of December 31, 2022. There was no goodwill impairment for the years ended December 31, 2022 and 2021. The changes in the goodwill balances by reportable segment are as follows:
| U.S. Regions |  | U.S. Federal |  | Canada |  | Alternative Fuels |  | Europe |  | Other |  | Total
Carrying Value of Goodwill |  |  |  |  |  |  |  |  |  |  |  |  |
Balance, December 31, 2021 | $ | 39,204 |  |  | $ | 3,981 |  |  | $ | 3,454 |  |  | $ | — |  |  | $ | 6,627 |  |  | $ | 17,891 |  |  | $ | 71,157 |
Remeasurement adjustments | 389 |  |  | — |  |  | — |  |  | — |  |  |  |  | — |  |  | 389 |
Foreign currency translation | — |  |  | — |  |  | (218) |  |  | — |  |  | (695) |  |  | — |  |  | (913) |
Balance, December 31, 2022 | 39,593 |  |  | 3,981 |  |  | 3,236 |  |  | — |  |  | 5,932 |  |  | 17,891 |  |  | 70,633 |
Goodwill acquired during the year | — |  |  | — |  |  | — |  |  | — |  |  | 6,855 |  |  | — |  |  | 6,855 |
Remeasurement adjustments | — |  |  | — |  |  | — |  |  | — |  |  | (165) |  |  | — |  |  | (165) |
Impairment charges, net of tax | (2,222) |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (2,222) |
Foreign currency translation | — |  |  | — |  |  | 73 |  |  | — |  |  | 413 |  |  | — |  |  | 486 |
Balance, December 31, 2023 | $ | 37,371 |  |  | $ | 3,981 |  |  | $ | 3,309 |  |  | $ | — |  |  | $ | 13,035 |  |  | $ | 17,891 |  |  | $ | 75,587 |
Accumulated Goodwill Impairment |  |  |  |  |  |  |  |  |  |  |  |
Balance, December 31, 2022 | $ | — |  |  | $ | — |  |  | $ | (1,016) |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | (1,016) |
Balance, December 31, 2023 | $ | (2,222) |  |  | $ | — |  |  | $ | (1,016) |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | (3,238) |
Intangible Assets, Net Definite-lived intangible assets, net consisted of the following:
| As of December 31,
| 2023 |  | 2022
Gross carrying amount |  |  |
Customer contracts | $ | 8,859 |  |  | $ | 8,288 |
Customer relationships | 21,182 |  |  | 17,755 |
Non-compete agreements | 3,013 |  |  | 2,980 |
Technology | 2,723 |  |  | 2,713 |
Tradenames | 1,370 |  |  | 541 |
Total gross carrying amount | 37,147 |  |  | 32,277 |
Accumulated Amortization |  |  |
Customer contracts | 8,859 |  |  | 8,288 |
Customer relationships | 14,979 |  |  | 13,066 |
Non-compete agreements | 3,013 |  |  | 2,980 |
Technology | 2,723 |  |  | 2,713 |
Tradenames | 765 |  |  | 537 |
Total accumulated amortization | 30,339 |  |  | 27,584 |
Intangible assets, net | $ | 6,808 |  |  | $ | 4,693 |
Customer contracts are amortized ratably over the period of the acquired customer contracts ranging in periods from approximately one to eight years. All other intangible assets are amortized over periods ranging from approximately four to fifteen years, as defined by the nature of the respective intangible asset. Separable intangible assets that are not deemed to have indefinite lives are amortized over their useful lives. We annually assess whether a change in the useful life is necessary, or more frequently if events or circumstances warrant. No changes to useful lives were made during the years ended December 31, 2023, 2022, and 2021. The table below sets forth amortization expense:
|  |  | Year Ended December 31,
| Location |  | 2023 |  | 2022 |  | 2021
Customer contracts | Cost of revenues |  | $ | — |  |  | $ | 551 |  |  | $ | — |
Customer relationships | Selling, general and administrative expenses |  | 2,141 |  |  | 1,303 |  |  | 310 |
Technology | Selling, general and administrative expenses |  | — |  |  | 1 |  |  | 8 |
Tradenames | Selling, general and administrative expenses |  | 225 |  |  | 3 |  |  | 3 |
Total amortization expense |  | $ | 2,366 |  |  | $ | 1,858 |  |  | $ | 321 |
Amortization expense for our definite-lived intangible assets for the next five years to be included in selling, general, and administrative expenses is as follows:
|  |  | Estimated Amortization Expense
2024 |  |  | $ | 2,147 |
2025 |  |  | 2,146 |
2026 |  |  | 1,714 |
2027 |  |  | 640 |
2028 |  |  | 161 |
Total |  |  | $ | 6,808 |

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