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Goodwill and Intangible Assets
 12 Months Ended
Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Intangible Assets Goodwill and Intangible Assets
The changes in the carrying amount of the Company’s goodwill by reportable segment for the years ended December 31, 2022, 2021 and 2020 are as follows (in thousands):
WarehouseTransportationThird-party managedUnallocated AcquisitionsTotal
December 31, 2020$421,727 $22,674 $3,261 $346,673 $794,335 
Goodwill acquired
92,849 700 — — 93,549 
Purchase price allocation adjustments541,872 6,746 — (346,673)201,945 
Impact of foreign currency translation
(16,333)(466)(50)— (16,849)
December 31, 20211,040,115 29,654 3,211 — 1,072,980 
Goodwill acquired
3,076 — — — 3,076 
Purchase price allocation adjustments
981 — — — 981 
Impairment and other(27,632)14,697 (3,211)— (16,146)
Impact of foreign currency translation
(27,254)— — — (27,254)
December 31, 2022$989,286 $44,351 $— $— $1,033,637 
The goodwill resulting from the Hall’s and Agro acquisitions in 2020 was allocated between the Warehouse and Transportation segments during 2021 as the acquired assets had not yet been assigned to the respective segments as of December 31, 2020 given the short period of time between the acquisition dates and year-end. Refer to Note 2 for additional information regarding the goodwill impairment charge recorded during 2022.
Intangible assets subject to amortization as of December 31, 2022 and 2021 are as follows (in thousands):
As of
December 31, 2022December 31, 2021
Intangible assetGross Carrying AmountAccumulated AmortizationNet Carrying AmountGross Carrying AmountAccumulated AmortizationNet Carrying Amount
Customer relationship$1,013,258 $(103,615)$909,643 $1,034,382 $(69,763)$964,619 
In-place lease and assembled workforce$4,825 $(4,322)$503 $4,825 $(3,521)$1,304 
The change in gross carrying amount for customer relationship assets from December 31, 2021 to 2022 is due to a decrease in foreign exchange rate movement of $21.1 million. The change in accumulated amortization for customer relationship assets from December 31, 2021 to 2022 is due to amortization expense of $35.7 million, partially offset by the decrease due to foreign exchange rate movement of $1.1 million. The estimated amortization for each of the next five years is approximately $36.0 million, and approximately $730.1 million thereafter. The weighted average remaining useful life as of December 31, 2022 for our customer relationships is 27 years. Additionally, we have an indefinite-lived Trade name asset with a carrying value of $15.1 million as of December 31, 2022 and 2021, respectively.