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GOODWILL AND INTANGIBLE ASSETS | 3 Months Ended
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Mar. 31, 2022
GOODWILL AND INTANGIBLE ASSETS |
GOODWILL AND INTANGIBLE ASSETS | NOTE D – GOODWILL AND INTANGIBLE ASSETS ​ Goodwill represents the excess of cost over the fair value of net identifiable tangible and intangible assets acquired. Goodwill by reportable segment consisted of the following: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Total |  | ArcBest |  | FleetNet |
​ | ​ | (in thousands)
Balances at December 31, 2021 |  | $ | 300,337 | ​ | $ | 299,707 | ​ | $ | 630 | ​
Purchase accounting adjustments(1) | ​ | ​ | (1,329) | ​ | ​ | (1,329) | ​ | ​ | — | ​
Balances at March 31, 2022 |  | $ | 299,008 |  | $ | 298,378 |  | $ | 630 |
(1) | Purchase accounting adjustments related to the MoLo acquisition represent adjustments to the acquired balance of working capital. As noted in Note C, goodwill related to the November 1, 2021 acquisition of MoLo is based on preliminary information as of March 31, 2022.
​ Intangible assets consisted of the following: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | March 31, 2022 | ​ | December 31, 2021 |
​ | ​ | Weighted-Average | ​ | ​ | ​ | ​ | Accumulated | ​ | Net | ​ | ​ | ​ | ​ | Accumulated | ​ | Net |
​ |  | Amortization Period |  | Cost |  | Amortization |  | Value |  | ​ | Cost |  | Amortization |  | Value |
​ | ​ | (in years) | ​ | (in thousands) | ​ | (in thousands) |
Finite-lived intangible assets | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Customer relationships |  | 12 | ​ | $ | 100,321 | ​ | $ | 37,212 | ​ | $ | 63,109 | ​ | $ | 100,321 | ​ | $ | 35,072 | ​ | $ | 65,249 | ​
Other | ​ | 8 | ​ | ​ | 30,350 | ​ | ​ | 2,396 | ​ | ​ | 27,954 | ​ | ​ | 30,335 | ​ | ​ | 1,304 | ​ | ​ | 29,031 | ​
​ |  | 11 | ​ |  | 130,671 | ​ |  | 39,608 | ​ |  | 91,063 | ​ | ​ | 130,656 | ​ |  | 36,376 | ​ |  | 94,280 | ​
Indefinite-lived intangible assets | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Trade name |  | N/A | ​ |  | 32,300 | ​ |  | N/A | ​ |  | 32,300 | ​ | ​ | 32,300 | ​ |  | N/A | ​ |  | 32,300 | ​
​ | ​ | ​ | ​ |  | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total intangible assets |  | N/A | ​ | $ | 162,971 | ​ | $ | 39,608 | ​ | $ | 123,363 | ​ | $ | 162,956 | ​ | $ | 36,376 | ​ | $ | 126,580 | ​
​ ​ The future amortization for intangible assets acquired through business acquisitions as of March 31, 2022 was as follows: ​
​ | ​ | ​ | ​ | ​
​ |  | Amortization of |
​ | ​ | Intangible Assets |
​ | ​ | (in thousands) | ​
Remainder of 2022 | ​ | $ | 9,688 | ​
2023 | ​ |  | 12,826 | ​
2024 | ​ |  | 12,793 | ​
2025 | ​ |  | 12,778 | ​
2026 | ​ | ​ | 8,671 | ​
Thereafter | ​ | ​ | 34,307 | ​
Total amortization | ​ | $ | 91,063 | ​
​

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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 http://asc.fasb.org/topic&trid=2144416 + Details
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