Goodwill and Other Intangibles

9 Months Ended

Sep. 30, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

A summary of changes in the Company’s goodwill is as follows (in thousands):


	December 31, 2022		Acquisitions1		Dispositions2		Acquisition Accounting Adjustments		Foreign Currency		September 30, 2023







Goodwill	$	5,201,435	$	372,479	$	(40,857)	$	3,746	$	16,743	$	5,553,546

1 Reflects the recognition of preliminary goodwill related to acquisitions completed by the Company during the nine months ended September 30, 2023. Of this amount, $220.0 million was assigned to the Fleet segment and $152.5 million was assigned to the Corporate Payments segment.

2 Reflects goodwill derecognized in connection with the disposition of the Company's operations in Russia. See Note 15 for additional information.

As of September 30, 2023 and December 31, 2022, other intangibles consisted of the following (in thousands):


		September 30, 2023						December 31, 2022
	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	17.1	$	3,073,277	$	(1,438,677)	$	1,634,600	$	2,922,586	$	(1,332,542)	$	1,590,044
Trade names and trademarks—indefinite lived	N/A	423,340		—		423,340		419,270		—		419,270
Trade names and trademarks—other	1.9	50,447		(13,873)		36,574		47,939		(9,111)		38,828
Software	6.0	285,396		(231,227)		54,169		278,460		(216,858)		61,602
Non-compete agreements	4.2	83,822		(67,506)		16,316		80,098		(58,868)		21,230

Total other intangibles		$	3,916,282	$	(1,751,283)	$	2,164,999	$	3,748,353	$	(1,617,379)	$	2,130,974
N/A = Not Applicable

Changes in foreign exchange rates resulted in a $5.7 million increase to the net carrying values of other intangibles in the nine months ended September 30, 2023. Amortization expense related to intangible assets for the nine months ended September 30, 2023 and 2022 was $169.5 million and $163.1 million, respectively.