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GOODWILL AND INTANGIBLE ASSETS (AS RESTATED) | 9 Months Ended
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Sep. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract] |
GOODWILL AND INTANGIBLE ASSETS (AS RESTATED) | GOODWILL AND INTANGIBLE ASSETS (AS RESTATED) Goodwill The change in the carrying value of goodwill for the nine months ended September 30, 2022, was as follows (in thousands):
Balance as of December 31, 2021 | $ | 437,398 |
Acquisition of Alante Air | 13,069 |
Acquisition of Air Partner | 83,399 |
Impairment of goodwill(1) | (62,000) |
Foreign currency translation adjustments | (12,019) |
Balance as of September 30, 2022 | $ | 459,847 |
__________________ 1) Represents a non-cash impairment charge related to goodwill realized in the third quarter of 2022. See Note 2, Summary of Significant Accounting Policies in the of the Notes to Condensed Consolidated Financial Statements included herein. Intangible Assets The gross carrying value, accumulated amortization and net carrying value of intangible assets consisted of the following (in thousands):
| September 30, 2022
| Gross Carrying Value |  | Accumulated Amortization |  | Net Carrying Value
Status | $ | 80,000 |  |  | $ | 21,644 |  |  | $ | 58,356 |
Customer relationships | 88,608 |  |  | 21,640 |  |  | 66,968 |
Non-competition agreement | 210 |  |  | 210 |  |  | — |
Trade name | 15,867 |  |  | 7,406 |  |  | 8,461 |
Developed technology | 20,402 |  |  | 8,570 |  |  | 11,832 |
Leasehold interest - favorable | 600 |  |  | 74 |  |  | 526 |
Backlog | 1,235 |  |  | 497 |  |  | 738 |
Total | $ | 206,922 |  |  | $ | 60,041 |  |  | $ | 146,881 |
| December 31, 2021
| Gross Carrying Value |  | Accumulated Amortization |  | Net Carrying Value
Status | $ | 80,000 |  |  | $ | 15,644 |  |  | $ | 64,356 |
Customer relationships | 74,600 |  |  | 14,443 |  |  | 60,157 |
Non-competition agreement | 210 |  |  | 209 |  |  | 1 |
Trade name | 14,230 |  |  | 5,493 |  |  | 8,737 |
Developed technology | 19,545 |  |  | 6,380 |  |  | 13,165 |
Leasehold interest - favorable | 600 |  |  | 57 |  |  | 543 |
Total | $ | 189,185 |  |  | $ | 42,226 |  |  | $ | 146,959 |
Amortization expense of intangible assets was $6.4 million and $18.1 million for the three and nine months ended September 30, 2022, respectively, and $5.4 million and $16.0 million for the three and nine months ended September 30, 2021, respectively. Intangible Liabilities The gross carrying value, accumulated amortization and net carrying value of intangible liabilities consisted of the following (in thousands):
| September 30, 2022
| Gross Carrying Value |  | Accumulated Amortization |  | Net Carrying Value
Intangible liabilities | $ | 20,000 |  |  | $ | 5,417 |  |  | $ | 14,583 |
| December 31, 2021
| Gross Carrying Value |  | Accumulated Amortization |  | Net Carrying Value
Intangible liabilities | $ | 20,000 |  |  | $ | 3,917 |  |  | $ | 16,083 |
Amortization of intangible liabilities, which reduces amortization expense was $0.5 million and $1.5 million for the three and nine months ended September 30, 2022, respectively, and $0.5 million and $1.5 million for the three and nine months ended September 30, 2021, respectively. Future amortization expense of intangible assets and intangible liabilities held as of September 30, 2022, are as follows (in thousands):
Year ending December 31, | Intangible Assets |  | Intangible Liabilities
2022 (excluding the nine months ended September 30, 2022) | $ | 6,295 |  |  | $ | 500 |
2023 | 23,296 |  |  | 2,000 |
2024 | 22,643 |  |  | 2,000 |
2025 | 22,230 |  |  | 2,000 |
2026 | 21,386 |  |  | 2,000 |
Thereafter | 51,031 |  |  | 6,083 |
Total | $ | 146,881 |  |  | $ | 14,583 |

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -URI https://asc.fasb.org/topic&trid=2144416 + Details
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