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GOODWILL & OTHER INTANGIBLE ASSETS
 3 Months Ended
Mar. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
GOODWILL & OTHER INTANGIBLE ASSETS GOODWILL & OTHER INTANGIBLE ASSETS
As further described in Note 19, the Company has established two operating and reportable segments: Transportation Solutions (“TS”) and Parts & Services (“P&S”). These operating and reportable segments have also been determined to be the applicable reporting units for purposes of goodwill assignment and evaluation. As of March 31, 2024, goodwill allocated to the TS and P&S segments was approximately $120.5 million and $67.9 million, respectively. The Company considered whether there were any indicators of impairment during the three months ended March 31, 2024 and concluded there were none.
The changes in the carrying amounts of goodwill from December 31, 2022 through the three-month period ended March 31, 2024 were as follows (in thousands):
Transportation SolutionsParts & ServicesTotal
Balance at December 31, 2022
Goodwill$188,759 $108,075 $296,834 
Accumulated impairment losses(68,257)(40,143)(108,400)
Net balance as of December 31, 2022120,502 67,932 188,434 
Effects of foreign currency(16)(9)(25)
Balance at December 31, 2023
Goodwill188,743 108,066 296,809 
Accumulated impairment losses(68,257)(40,143)(108,400)
Net balance as of December 31, 2023120,486 67,923 188,409 
Effects of foreign currency(2)— (2)
Balance at March 31, 2024
Goodwill188,741 108,066 296,807 
Accumulated impairment losses(68,257)(40,143)(108,400)
Net balance as of March 31, 2024$120,484 $67,923 $188,407