Goodwill and Identifiable Intangible Assets

12 Months Ended

Dec. 31, 2023

6. Goodwill and Identifiable Intangible Assets

Goodwill

The following table provides information regarding changes in goodwill (in millions):


	Aviation Segment		Land Segment		Total
As of December 31, 2021	$	400.1	$	461.8	$	861.9
2022 acquisitions (1)	0.7		388.0		388.7

Foreign currency translation of non-USD functional currency subsidiary goodwill	(3.2)		(14.4)		(17.6)
As of December 31, 2022	397.6		835.3		1,233.0
2023 acquisitions	—		3.0		3.1
Adjustment for sale of business	—		(4.0)		(4.0)
Foreign currency translation of non-USD functional currency subsidiary goodwill	0.6		5.3		5.9
As of December 31, 2023	$	398.3	$	839.7	$	1,238.0

(1)See Note 3. Acquisitions for additional information.

Identifiable Intangible Assets

The following table provides information about our identifiable intangible assets (in millions):


	As of December 31, 2023						As of December 31, 2022
	Gross Carrying Amount		Accumulated Amortization (1)		Net		Gross Carrying Amount		Accumulated Amortization (1)		Net
Intangible assets subject to amortization:
Customer relationships	$	512.4	$	322.6	$	189.8	$	509.0	$	292.6	$	216.4
Supplier agreements	69.0		30.2		38.8		69.0		25.0		44.0
Others	55.2		34.6		20.6		54.3		32.1		22.2
Total intangible assets subject to amortization	636.5		387.4		249.2		632.2		349.7		282.5
Intangible assets not subject to amortization:
Trademark / trade name rights	50.5		—		50.5		53.6		—		53.6
Total intangible assets	$	687.1	$	387.4	$	299.7	$	685.9	$	349.7	$	336.2

(1)Includes the impact of foreign exchange.

Intangible amortization expense for 2023, 2022 and 2021 was $36.2 million, $43.4 million and $30.1 million, respectively.

The future estimated amortization of our identifiable intangible assets is as follows (in millions):