GOODWILL AND INTANGIBLE ASSETS (Tables)

12 Months Ended

Dec. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Components of Intangible Assets Included in Wholesale Segment

The Company’s intangible assets consist of the following (in thousands):


	Year Ended December 31,
	2023				2022
	Gross		Accumulated Amortization		Net		Gross		Accumulated Amortization		Net
Goodwill(1)	$	33,237	$	—	$	33,237	$	33,237	$	—	$	33,237
Indefinite -lived intangible assets:
Trade names(1)(2)	42,000		—		42,000		49,600		—		49,600
Finite -lived intangible assets:
Licenses	15,847		(12,110)		3,737		15,847		(11,654)		4,193
Trade names (2)(3)	62,493		(23,862)		38,631		54,785		(20,030)		34,755
Customer relationships (3)	143,158		(63,630)		79,528		143,157		(53,586)		89,571
Other (3)	5,872		(3,872)		2,000		5,856		(3,325)		2,531
Total	$	302,607	$	(103,474)	$	199,133	$	302,482	$	(88,595)	$	213,887

(1) The gross and net value at December 31, 2023 and 2022 reflect a reduction of $91.7 million impairment charges on goodwill and $1.0 million charges on indefinite-lived intangible assets.

(2)During 2023, in connection with an interim impairment test completed as of September 30, 2023, the Company determined that one trade name, that was previously estimated to contribute to cash flows indefinitely, has a definite life. Accordingly, the trade name was reclassified from indefinite-lived intangible asset to a finite-lived intangible asset as of October 1, 2023. The trade name is being amortized over an estimated useful life of 15 years.

(3)The gross value and accumulated amortization at December 31, 2023 and 2022 reflect a reduction of $44.1 million and $(29.3) million, respectively, for the net $14.8 million impairment charge on finite-lived intangible assets within the international segment during the period ended December 31, 2021 and a $6.5 million reduction in gross value for previous impairment charges on finite-lived intangible assets within the U.S. segment.

Summary of Activities Relating to Intangible Assets

A summary of the activities related to the Company’s intangible assets for the years ended December 31, 2023, 2022 and 2021 consists of the following (in thousands):


	Intangible Assets		Goodwill		Total Intangible Assets and Goodwill
Goodwill and Intangible Assets, December 31, 2020	$	213,754	$	30,271	$	244,025
Foreign currency translation adjustment	(364)		—		(364)
Amortization	(16,223)		—		(16,223)
Impairment of finite-lived intangible assets	(14,760)		—		(14,760)

Goodwill and Intangible Assets, December 31, 2021	182,407		30,271		212,678
Acquisition of goodwill	—		2,966		2,966
Acquisition of trade name	13,000		—		13,000
Foreign currency translation adjustment	(227)		—		(227)
Amortization	(14,530)		—		(14,530)

Goodwill and Intangible Assets, December 31, 2022	180,650		33,237		213,887




Foreign currency translation adjustment	81		—		81
Amortization	(14,835)		—		(14,835)


Goodwill and Intangible Assets, December 31, 2023	$	165,896	$	33,237	$	199,133

Weighted Average Amortization Periods for Finite Lived Intangible Assets

The weighted-average amortization periods for the Company’s finite-lived intangible assets as of December 31, 2023 are as follows:


			Years
Trade names			15
Licenses			33
Customer relationships			14
Other			10

Estimated Amortization Expense

Estimated amortization expense for each of the five succeeding fiscal years is as follows (in thousands):


	Year ending December 31,
2024	$	14,888
2025	14,637
2026	14,288
2027	13,578
2028	13,119