Goodwill and Other Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of goodwill

The changes in the carrying amounts of goodwill were as follows:

	2023		2022		2021
	(In thousands)
Goodwill balance at beginning of period	$	3,519,339	$	3,515,135	$	2,922,964
Adjustments relating to deferred tax assets	—		—		(9)
Acquisition and measurement period adjustments 1	329,459		4,204		592,180
Goodwill balance at end of period	$	3,848,798	$	3,519,339	$	3,515,135

1The goodwill associated with the U.S. Xpress Acquisition was allocated to the Truckload and Logistics segments. The goodwill associated with the ACT and MME acquisitions was allocated to the LTL segment. The goodwill associated with the UTXL acquisition was allocated to the Logistics segment. The goodwill associated with the Eleos and other acquisitions were allocated to the All Other Segments. See Note 4 regarding the amount attributed to adjustments to the opening balance sheets.

The following presents the components of goodwill by reportable segment as of December 31, 2023 and 2022:

	December 31,
	2023		2022
	Net Carrying Amount 1		Net Carrying Amount 1
	(In thousands)
Truckload	$	2,929,116	$	2,658,086
LTL	548,322		548,322
Logistics	106,140		54,827
Intermodal	175,594		175,594
All Other	89,626		82,510
Goodwill	$	3,848,798	$	3,519,339

1Except for the net accumulated amortization related to deferred tax assets in the Truckload segment, the net carrying amount and gross carrying amount are equal since there are no accumulated impairment losses.

Schedule of Intangible Assets, net

Other intangible asset balances were as follows:

	December 31,
	2023		2022
	(In thousands)
Definite-lived intangible assets: 1
Gross carrying amount	$	1,426,592	$	1,237,993
Accumulated amortization	(336,120)		(265,982)
Definite-lived intangible assets, net	1,090,472		972,011
Indefinite-lived trade names:
Gross carrying amount	968,410		804,558
Intangible assets, net	$	2,058,882	$	1,776,569

1The Company's definite-lived intangible assets include customer relationships which have a gross carrying amount of $1.4 billion and $1.2 billion as of December 31, 2023 and 2022, respectively. Other categories of the Company's definite-lived intangible assets include non-compete agreements, internally-developed software, trade names, and others. Identifiable intangible assets subject to amortization have been recorded at fair value. Intangible assets related to acquisitions other than the 2017 Merger are amortized over a weighted-average amortization period of 19.3 years. The Company's customer relationship intangible assets related to the 2017 Merger are being amortized over a weighted average amortization period of 19.9 years.

Finite-lived Intangible Assets Amortization Expense

The following table presents amortization of intangible assets related to the 2017 Merger and various acquisitions:

	2023		2022		2021
	(In thousands)
Amortization of intangible assets related to the 2017 Merger	$	41,375	$	41,375	$	41,375
Amortization related to other intangible assets	28,763		23,468		13,924
Amortization of intangibles	$	70,138	$	64,843	$	55,299