Goodwill and Intangible Assets

12 Months Ended

Dec. 31, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets

5. GOODWILL AND INTANGIBLE ASSETS

Goodwill

Total assets carried on the balance sheet and not remeasured to fair value on a recurring basis, identified as Level 3 measurements, as of December 31, 2021 are $694.0 million, comprised of $662.4 million of goodwill and $31.6 million of identified indefinite-lived intangible assets. Accumulated goodwill impairment losses to date amounts to $9.3 million, all of which was recognized in the year ended December 31, 2015.

Intangible Assets, Net

Intangible assets, net consisted of the following at December 31 (in thousands):

	2021			2020
Intangible assets:
Finite-lived intangible assets:
Carrying amount:
Customer relationships		145,051			145,051
Accumulated amortization:
Customer relationships		(135,337	)		(130,223	)
Total finite-lived intangible assets, net		9,714			14,828
Trade name (indefinite-lived)		31,646			31,646
Total intangible assets, net	$	41,360		$	46,474

As of December 31, 2021, estimated amortization expense of the Company’s intangible assets for each of the next five years and thereafter is as follows (in thousands):

	Amortization
2022	$	3,353
2023		2,199
2024		1,443
2025		946
2026		620
Later years		1,153
	$	9,714