XML 24 R14.htm IDEA: XBRL DOCUMENT
v3.23.3

Other Intangible, Net and Goodwill | 9 Months Ended
--- | ---
Sep. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract] |
Intangible Assets and Goodwill | Other Intangibles, Net and GoodwillAll intangible assets determined to have finite lives are amortized over their estimated useful lives. The useful life of an intangible asset is the period over which the asset is expected to contribute directly or indirectly to future cash flows. There was no change in the gross amount of identifiable intangible assets during the three and nine months ended September 30, 2023. The $99.8 million of other intangibles, net recorded in the consolidated balance sheet at September 30, 2023 includes $31.6 million of indefinite lived trade name intangible assets, not subject to amortization, along with $68.2 million finite lived intangible assets, net. Amortization expense of $1.3 million and $1.0 million for the three months ended September 30, 2023 and 2022, respectively, was included in depreciation and amortization in the consolidated statements of comprehensive income (loss). Amortization expense of $3.9 million and $2.2 million for the nine months ended September 30, 2023 and 2022, respectively, was included in depreciation and amortization in the consolidated statements of comprehensive income (loss). Intangible assets subject to amortization consisted of the following at September 30, 2023:
| Amortization period (years) |  | Gross Amount |  | Accumulated Amortization |  | Net finite intangible assets
|  |  | (in thousands)
Customer relationships | 15-20 |  | $ | 75,836 |  |  | $ | 11,588 |  |  | $ | 64,248 |
Trade name | 0.5-10 |  | 12,900 |  |  | 10,060 |  |  | 2,840 |
Covenants not to compete | 1-10 |  | 5,839 |  |  | 4,752 |  |  | 1,087 |
|  |  | $ | 94,575 |  |  | $ | 26,400 |  |  | $ | 68,175 |
The carrying amount of goodwill was $322.6 million and $320.7 million at September 30, 2023 and December 31, 2022, respectively. The $1.9 million increase in Goodwill during the three months ended September 30, 2023 was from the finalization of purchase accounting for the CFI acquisition. The purchase accounting adjustment is primarily associated with equipment valuation determinations made upon finalization of post acquisition equipment existence and condition analysis.

X
- References No definition available. + Details
Name: | us-gaap_GoodwillAndIntangibleAssetsDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 350 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//350/tableOfContent + Details
Name: | us-gaap_GoodwillAndIntangibleAssetsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration