Goodwill and Other Intangibles |
Goodwill and Other Intangibles A summary of changes in the Company’s goodwill by reportable business segment is as follows (in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | December 31, 2021 | | Acquisitions | | | | Acquisition Accounting Adjustments | | Foreign Currency | | March 31, 2022 | Segment | | | | | | | | | | | | | North America | | $ | 3,814,258 | | | $ | 14,491 | | | | | $ | 6,703 | | | $ | 1,827 | | | $ | 3,837,279 | | Brazil | | 546,148 | | | — | | | | | — | | | 93,315 | | | 639,463 | | International | | 718,572 | | | — | | | | | — | | | (14,482) | | | 704,090 | | | | $ | 5,078,978 | | | $ | 14,491 | | | | | $ | 6,703 | | | $ | 80,660 | | | $ | 5,180,832 | |
As of March 31, 2022 and December 31, 2021, other intangibles consisted of the following (in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | March 31, 2022 | | December 31, 2021 | | | Weighted- Avg Useful Lives (Years) | | Gross Carrying Amounts | | Accumulated Amortization | | Net Carrying Amount | | Gross Carrying Amounts | | Accumulated Amortization | | Net Carrying Amount | Customer and vendor relationships | | 16.2 | | $ | 2,963,613 | | | $ | (1,236,300) | | | $ | 1,727,313 | | | $ | 2,925,719 | | | $ | (1,167,218) | | | $ | 1,758,501 | | Trade names and trademarks—indefinite lived | | N/A | | 479,333 | | | — | | | 479,333 | | | 466,327 | | | — | | | 466,327 | | Trade names and trademarks—other | | 7.1 | | 12,163 | | | (5,987) | | | 6,176 | | | 12,093 | | | (5,235) | | | 6,858 | | Software | | 6.0 | | 281,347 | | | (207,212) | | | 74,135 | | | 272,461 | | | (198,628) | | | 73,833 | | Non-compete agreements | | 4.3 | | 81,576 | | | (54,195) | | | 27,381 | | | 78,145 | | | (48,279) | | | 29,866 | | Total other intangibles | | | | $ | 3,818,032 | | | $ | (1,503,694) | | | $ | 2,314,338 | | | $ | 3,754,745 | | | $ | (1,419,360) | | | $ | 2,335,385 | | Changes in foreign exchange rates resulted in a $31.1 million increase to the net carrying values of other intangibles in the three months ended March 31, 2022. Amortization expense related to intangible assets for the three months ended March 31, 2022 and 2021 was $54.9 million and $47.3 million, respectively.
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