Goodwill and Other Intangible Assets, net

6 Months Ended

Jun. 30, 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 June 30, 2022	$	41,038

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

	June 30, 2022
	Weighted	Gross
	average	Carrying		Accumulated		Net Book
	remaining lives	Amount		Amortization		Value
Intangible assets subject to amortization
Customer relationships	5.1	$	128,907	$	(63,677)	$	65,230
Total			128,907		(63,677)		65,230
Indefinite lived assets:
Tradenames			16,400		—		16,400
Total intangible assets other than goodwill		$	145,307	$	(63,677)	$	81,630

	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 six months ended June 30, 2022 and 2021, amortization expense related to intangible assets was $6.9 million and $7.3 million, respectively, and is included in other depreciation and amortization in the consolidated statements of comprehensive income (loss). For the three months ended June 30, 2022 and 2021, amortization expense related to intangible assets was $3.2 million and $3.7 million, respectively.

The estimated aggregate amortization expense as of June 30, 2022 for each of the next five years and thereafter is as follows:

Rest of 2022	$	6,447
2023		12,881
2024		12,881
2025		12,881
2026		12,285
Thereafter		7,855
Total	$	65,230