GOODWILL AND INTANGIBLE ASSETS

3 Months Ended

Mar. 31, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

The activity in goodwill by segment for the three months ended March 31, 2024 was as follows:


	December 31, 2023		Currency Translation		March 31, 2024
	(In thousands)
U.S.	$	41,936	$	—	$	41,936
Europe	1,116,521		(11,540)		1,104,981
Mexico	127,804		—		127,804
Total	$	1,286,261	$	(11,540)	$	1,274,721

Intangible assets consisted of the following:


	December 31, 2023		Amortization		Currency Translation		March 31, 2024
	(In thousands)
Cost:
Trade names not subject to amortization	$	580,473	$	—	$	(5,644)	$	574,829
Trade names subject to amortization	112,681		—		(382)		112,299
Customer relationships	441,719		—		(3,316)		438,403
Accumulated amortization:
Trade names	(57,762)		(970)		52		(58,680)
Customer relationships	(223,128)		(7,145)		1,169		(229,104)
Intangible assets, net	$	853,983	$	(8,115)	$	(8,121)	$	837,747

Intangible assets are amortized over the estimated useful lives of the assets as follows:


Customer relationships			3-18 years
Trade names subject to amortization			15-20 years

At March 31, 2024, the Company assessed if events or changes in circumstances indicated that the asset group-level carrying amounts of its intangible assets subject to amortization might not be recoverable. There were no indicators present that required the Company to test the recoverability of the asset group-level carrying amounts of its intangible assets subject to amortization at that date. The Company will perform its annual tests of recoverability of goodwill and trade names not subject to amortization in the fourth quarter of 2024, which if there were to be an impairment could be material.