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Goodwill and Other Intangible Assets
12 Months Ended
Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Other Intangible Assets Goodwill and Other Intangible Assets
A summary of changes in the Company’s goodwill by reportable segment is as follows (in thousands):
December 31, 2021AcquisitionsAcquisition Accounting
Adjustments
Foreign
Currency
December 31, 2022
Segment
Fleet$1,929,095 $71,856 $1,216 $(47,514)$1,954,653 
Corporate Payments1,888,875 40,387 2,933 (26,125)1,906,070 
Lodging 364,653 46,928 4,700 (237)416,044 
Brazil 546,148 — — 29,590 575,738 
Other350,207 — — (1,277)348,930 
$5,078,978 $159,171 $8,849 $(45,563)$5,201,435 
December 31, 2020AcquisitionsAcquisition Accounting AdjustmentsForeign
Currency
December 31, 2021
Segment
Fleet$1,943,065 $3,286 $(1,294)$(15,962)$1,929,095 
Corporate Payments1,606,704 288,758 — (6,587)1,888,875 
Lodging 233,413 131,771 398 (929)364,653 
Brazil585,861 — — (39,713)546,148 
Other350,138 — — 69 350,207 
$4,719,181 $423,815 $(896)$(63,122)$5,078,978 
At December 31, 2022 and 2021, approximately $945.0 million and $923.3 million of the Company’s goodwill is deductible for tax purposes, respectively. Acquisition accounting adjustments recorded in 2022 and 2021 are a result of the Company completing its acquisition accounting and working capital adjustments for certain prior year acquisitions.
Other intangible assets consisted of the following at December 31 (in thousands):
  20222021
 Weighted-
Avg Useful
Life
(Years)
Gross
Carrying
Amounts
Accumulated
Amortization
Net
Carrying
Amount
Gross
Carrying
Amounts
Accumulated
Amortization
Net
Carrying
Amount
Customer and vendor relationships16.4$2,922,586 $(1,332,542)$1,590,044 $2,925,719 $(1,167,218)$1,758,501 
Trade names and trademarks—indefinite livedN/A419,270 — 419,270 466,327 — 466,327 
Trade names and trademarks—other1.747,939 (9,111)38,828 12,093 (5,235)6,858 
Technology6.0278,460 (216,858)61,602 272,461 (198,628)73,833 
Non-compete agreements4.380,098 (58,868)21,230 78,145 (48,279)29,866 
Total other intangibles$3,748,353 $(1,617,379)$2,130,974 $3,754,745 $(1,419,360)$2,335,385 
Changes in foreign exchange rates resulted in $18.4 million and $32.7 million decreases to the carrying values of other intangible assets in the years ended December 31, 2022 and 2021, respectively. Amortization expense related to intangible assets for the years ended December 31, 2022, 2021, and 2020 was $227.2 million, $205.5 million, and $184.2 million, respectively. Due to rebranding activity, the Company reassessed the useful lives of certain trademarks. This resulted in a reclassification of $45.6 million from indefinite to finite-lived assets. At the time of change in estimate, which was applied prospectively, the Company tested these trademarks for impairment, which resulted in no impairment charge.
The future estimated amortization of intangible assets at December 31, 2022 is as follows (in thousands):
2023$208,509 
2024203,417 
2025180,525 
2026160,646 
2027150,867 
Thereafter807,740