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GOODWILL AND INTANGIBLE ASSETS
 6 Months Ended
Jun. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]  
GOODWILL AND INTANGIBLE ASSETS GOODWILL AND INTANGIBLE ASSETS
The carrying amount of goodwill, franchise rights, and other intangible assets as of June 30, 2023 and December 31, 2022 is as follows:
June 30, 2023December 31, 2022
Goodwill$23,897 $21,142 
Other intangible assets
Franchise rights - indefinite life$236,678 $236,723 
Definite lived - non-compete agreements and other23,795 23,750 
260,473 260,473 
Less: accumulated amortization18,086 13,060 
Intangible assets, net$242,387 $247,413 
The following summarizes the changes in the carrying amount of goodwill by reportable segment from December 31, 2022 to June 30, 2023.
PowersportsVehicle LogisticsTotal
Balance at December 31, 2022$20,294$848$21,142
Acquisition of store in Tallahassee, FL2,600—2,600
Four Wheels purchase accounting adjustments(106)—(106)
Freedom Powersports purchase accounting adjustments261—261
Balance at June 30, 2023$23,049$848 $23,897
In addition to annual impairment testing, the Company continuously monitors for events and circumstances that could indicate that it is more likely than not that its goodwill, indefinite lived intangible assets, finite lived intangible assets, and other long-lived assets are impaired or not recoverable (a triggering event), requiring an interim impairment test. During the quarter ended June 30, 2023, the Company considered a number of factors including, but not limited to, current macroeconomic conditions such as inflation, economic growth, and interest rate movements, industry and market considerations, stock price performance (including performance relative to peers), and overall financial performance of the Company. Based on the analysis of relevant events and circumstances, the Company concluded a triggering event had not occurred as of June 30, 2023. The Company will continue to monitor both macroeconomic and company-specific events and circumstances in future periods and if a triggering event is identified prior to the Company’s fourth quarter annual impairment test, management will complete an interim impairment test at that time.
Estimated annual amortization expense related to other intangibles:
2023$2,886 
20242,653 
202599 
Thereafter— 
$5,638