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Goodwill and Intangible Assets | 6 Months Ended
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Jun. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Intangible Assets | Goodwill and Intangible Assets Goodwill represents the excess of cost over the fair value of net identifiable tangible and intangible assets acquired in business combinations. The following table summarizes changes in the carrying amount of goodwill by segment for the six months ended June 30, 2023 (in thousands):
| TTS |  | Werner Logistics |  | Total
Balance as of December 31, 2022 | $ | 53,897 |  |  | $ | 78,820 |  |  | $ | 132,717 |
Purchase accounting adjustments (1) | (7,841) |  |  | 4,228 |  |  | (3,613) |
Balance as of June 30, 2023 | $ | 46,056 |  |  | $ | 83,048 |  |  | $ | 129,104 |
(1) The purchase accounting adjustments consist of post-closing adjustments related to net assets assumed in the acquisition of ReedTMS. For additional information regarding these purchase accounting adjustments, see Note 2. The following table presents acquired intangible assets (in thousands):
| June 30, 2023 |  | December 31, 2022
| Gross Carrying Amount |  | Accumulated Amortization |  | Net Carrying Amount |  | Gross Carrying Amount |  | Accumulated Amortization |  | Net Carrying Amount
Customer relationships | $ | 80,200 |  |  | $ | (9,979) |  |  | $ | 70,221 |  |  | $ | 64,900 |  |  | $ | (5,714) |  |  | $ | 59,186 |
Trade names | 24,600 |  |  | (3,309) |  |  | 21,291 |  |  | 24,600 |  |  | (2,284) |  |  | 22,316 |
Total intangible assets | $ | 104,800 |  |  | $ | (13,288) |  |  | $ | 91,512 |  |  | $ | 89,500 |  |  | $ | (7,998) |  |  | $ | 81,502 |
Amortization expense on intangible assets was $2.5 million and $5.3 million for the three and six months ended June 30, 2023, respectively, and $1.4 million and $2.7 million for the three and six months ended June 30, 2022, respectively, and is reported in depreciation and amortization on the consolidated statements of income. As of June 30, 2023, we estimate future amortization expense for intangible assets will be $5.0 million for the remainder of 2023, and $10.1 million for each of the five succeeding fiscal years.

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 350 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//350/tableOfContent + Details
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