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Goodwill and Other Intangible Assets, net
3 Months Ended
Mar. 31, 2022
Goodwill and Other Intangible Assets, net  
Goodwill and Other Intangible Assets, net

5. Goodwill and Other Intangible Assets, net

The financial statements reflect goodwill from previous acquisitions that is all attributable to the HFS – South business segment and reporting unit.

Changes in the carrying amount of goodwill were as follows:

    

HFS - South

Balance at January 1, 2021

$

41,038

Changes in Goodwill

-

Balance at December 31, 2021

41,038

Changes in Goodwill

-

Balance at March 31, 2022

$

41,038

Intangible assets other than goodwill at the dates indicated below consisted of the following:

March 31, 2022

Weighted

Gross

average

Carrying

Accumulated

Net Book

    

remaining lives

    

Amount

    

Amortization

    

Value

Intangible assets subject to amortization

    

  

    

  

    

  

    

  

Customer relationships

 

5.3

$

128,907

$

(60,458)

$

68,449

Total

128,907

(60,458)

68,449

Indefinite lived assets:

 

  

 

  

 

  

 

  

Tradenames

 

  

 

16,400

 

 

16,400

Total intangible assets other than goodwill

 

  

$

145,307

$

(60,458)

$

84,849

December 31, 2021

Weighted

Gross

average

Carrying

Accumulated

Net Book

    

remaining lives

    

Amount

    

Amortization

    

Value

Intangible assets subject to amortization

Customer relationships

    

5.6

    

$

128,907

    

$

(56,822)

    

$

72,085

Total

128,907

(56,822)

72,085

Indefinite lived assets:

 

  

 

  

 

  

 

  

Tradenames

 

  

 

16,400

 

 

16,400

Total intangible assets other than goodwill

 

  

$

145,307

$

(56,822)

$

88,485

For the three months ended March 31, 2022 and 2021, amortization expense related to intangible assets was $3.6 million and $3.7 million, respectively, and is included in other depreciation and amortization in the consolidated statements of comprehensive income (loss).

The estimated aggregate amortization expense as of March 31, 2022 for each of the next five years and thereafter is as follows:

Rest of 2022

    

$

9,666

2023

12,881

2024

12,881

2025

12,881

2026

12,285

Thereafter

7,855

Total

$

68,449