GOODWILL AND INTANGIBLE ASSETS

6 Months Ended

Jun. 30, 2024

GOODWILL AND INTANGIBLE ASSETS

GOODWILL AND INTANGIBLE ASSETS

NOTE D – GOODWILL AND INTANGIBLE ASSETS

Goodwill represents the excess of cost over the fair value of net identifiable tangible and intangible assets acquired. The goodwill balance of $304.8 million at both June 30, 2024 and December 31, 2023, primarily relates to the Asset-Light segment acquisitions of MoLo and Panther.

Intangible assets consisted of the following:

		June 30, 2024						December 31, 2023
	Weighted-Average			Accumulated		Net				Accumulated		Net
	Amortization Period	Cost		Amortization		Value			Cost	Amortization		Value
	(in years)	(in thousands)						(in thousands)
Finite-lived intangible assets
Customer relationships	12	$	99,579	$	55,570	$	44,009	$	99,579	$	51,357	$	48,222
Other	8		30,158		11,727		18,431		30,151		9,523		20,628
	11		129,737		67,297		62,440		129,730		60,880		68,850
Indefinite-lived intangible asset
Trade name	N/A		32,300		N/A		32,300		32,300		N/A		32,300
Total intangible assets	N/A	$	162,037	$	67,297	$	94,740	$	162,030	$	60,880	$	101,150

As of June 30, 2024, the future amortization for intangible assets acquired through business acquisitions were as follows:

	Amortization of
	Intangible Assets
	(in thousands)
Remainder of 2024	$	6,399
2025		12,798
2026		8,691
2027		7,266
2028		7,266
Thereafter		20,020
Total amortization	$	62,440