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GOODWILL AND INTANGIBLE ASSETS (Tables)

12 Months Ended

Dec. 31, 2022

GOODWILL AND INTANGIBLE ASSETS

Schedule of goodwill by reportable operating segment

​

​	​	​	​	​	​	​	​	​	​	​
​		Total			ArcBest			FleetNet
​	​	(in thousands)
Balances at December 31, 2020	​	$	88,320	​	$	87,690	​	$	630	​
Goodwill acquired(1)	​		213,969	​		213,969	​	​	—	​
Goodwill divested(2)	​	​	(1,952)	​	​	(1,952)	​	​	—	​
Balances at December 31, 2021	​	$	300,337	​	$	299,707	​	$	630	​
Purchase accounting adjustments(3)	​	​	5,045	​	​	5,045	​	​	—	​
Balances at December 31, 2022	​	$	305,382	​	$	304,752	​	$	630	​
​	​	​	​	​	​	​	​	​	​	​
Accumulated impairment at December 31, 2022 and 2021	​	$	(20,000)	​	$	(20,000)	​	$	—	​

(1) Goodwill acquired relates to the acquisition of MoLo (see Note D).

(2) Goodwill divested due to the sale of the labor services portion of the ArcBest segment’s moving business in second quarter 2021 was determined based on the relative fair value of the business sold to the total fair value of the reporting unit.

(3) As noted in Note D, purchase accounting adjustments related to the MoLo acquisition represent adjustments to the acquired balance of working capital, and goodwill related to the November 1, 2021 acquisition of MoLo.

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Schedule of intangible assets

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​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

2022

​

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

​

$

43,627

​

$

56,694

​

$

100,321

​

$

35,072

​

$

65,249

​

Other

​

8

​

​

30,471

​

​

5,669

​

​

24,802

​

​

30,335

​

​

1,304

​

​

29,031

​

​

11

​

130,792

​

49,296

​

81,496

​

​

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

​

$

163,092

​

$

49,296

​

$

113,796

​

$

162,956

​

$

36,376

​

$

126,580

​

​

Schedule of future amortization for intangible assets

​

​	​	​	​	​
​		Amortization of
​	​	Intangible Assets
​	​	(in thousands)		​
2023	​	$	12,826	​
2024	​		12,793	​
2025	​		12,778	​
2026	​		8,671	​
2027	​	​	7,247	​
Thereafter	​	​	27,181	​
Total amortization	​	$	81,496	​

X

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