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