GOODWILL AND INTANGIBLES

12 Months Ended

Dec. 31, 2021

GOODWILL AND INTANGIBLES

GOODWILL AND INTANGIBLES

6. GOODWILL AND INTANGIBLE ASSETS

Goodwill by segment as of December 31, 2021 and 2020 consists of the following:

	Ocean
(In millions)	Transportation		Logistics		Total
Goodwill	$	222.6	$	105.2	$	327.8

Logistics goodwill of $105.2 million includes $78.6 million acquired as part of the acquisition of Span Intermediate, LLC (“Span Alaska”) in August 2016 that was allocated to the Span Alaska reporting unit, and $26.6 million relates to other Logistics acquisitions that were allocated to the Logistics reporting unit.

Intangible assets by segment as of December 31, 2021 and 2020 consist of the following:

	As of December 31, 2021						As of December 31, 2020
	Gross		Accumulated				Gross		Accumulated
(In millions)	Amount		Amortization		Net Book Value		Amount		Amortization		Net Book Value
Ocean Transportation - Customer relationships	$	140.6	$	44.6	$	96.0	$	140.6	$	37.9	$	102.7
Logistics:
Customer relationships		90.1		32.3		57.8		90.1		28.1		62.0
Trade name		27.3		—		27.3		27.3		—		27.3
Total Logistics		117.4		32.3		85.1		117.4		28.1		89.3
Total	$	258.0	$	76.9	$	181.1	$	258.0	$	66.0	$	192.0

Ocean Transportation intangible assets of $140.6 million relate to customer relationships acquired as part of the acquisition of Horizon Lines, Inc. (“Horizon”) on May 29, 2015, and are being amortized over 21 years. Logistics intangible assets include $79.3 million of customer relationships which are being amortized over 20 years, and $27.3 million of an indefinite life trade name, both acquired as part of the Span Alaska acquisition. The remaining Logistics customer relationships of $10.8 million are being amortized over a period of approximately 13 years.

Intangible assets related amortization expense for 2021, 2020 and 2019, is as follows:

	Years Ended December 31,
(In millions)	2021		2020		2019
Amortization expense	$	10.9	$	10.9	$	11.1

As of December 31, 2021, estimated amortization expense related to customer relationship intangible assets during the next five years and thereafter is as follows:

	Customer
Year (in millions)	Relationships
2022	$	10.7
2023		10.7
2024		10.7
2025		10.7
2026		10.7
Thereafter		100.3
Total	$	153.8