XML 23 R13.htm IDEA: XBRL DOCUMENT v3.23.1
GOODWILL AND INTANGIBLE ASSETS
3 Months Ended
Mar. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]  
GOODWILL AND INTANGIBLE ASSETS GOODWILL AND INTANGIBLE ASSETS
The carrying amount of goodwill was $928.9 million as of both March 31, 2023 and December 31, 2022. The Company has not historically recorded any impairment of goodwill.
Intangible assets consisted of the following (dollars in thousands):
March 31, 2023December 31, 2022
Useful Life
Range
(in years)
Gross
Carrying
Amount
Accumulated
Amortization
Net
Carrying
Amount
Gross
Carrying
Amount
Accumulated
Amortization
Net
Carrying
Amount
Finite-Lived Intangible Assets
Customer relationships
13.5 – 17
$784,381 $243,037 $541,344 $784,381 $225,445 $558,936 
Trademarks and trade names
2.7 – 4.2
11,846 7,201 4,645 11,846 6,675 5,171 
Wireless licenses
10 – 15
1,418 322 1,096 1,418 286 1,132 
Total finite-lived intangible assets$797,645 $250,560 $547,085 $797,645 $232,406 $565,239 
Indefinite-Lived Intangible Assets
Franchise agreements$2,100,546 $2,100,546 
Trademark and trade name800 800 
Total indefinite-lived intangible assets$2,101,346 $2,101,346 
Total intangible assets, net$2,648,431 $2,666,585 
Intangible asset amortization expense was $18.2 million and $20.8 million for the three months ended March 31, 2023 and 2022, respectively.
The future amortization of existing finite-lived intangible assets as of March 31, 2023 was as follows (in thousands):
Year Ending December 31,Amount
2023 (remaining nine months)$54,463 
202465,828 
202560,840 
202655,326 
202751,445 
Thereafter259,183 
Total$547,085 
Actual amortization expense in future periods may differ from the amounts above as a result of intangible asset acquisitions or divestitures, changes in useful life estimates, impairments or other relevant factors.