Quarterly report pursuant to Section 13 or 15(d)

Goodwill and Intangible Assets

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Goodwill and Intangible Assets
 3 Months Ended
Mar. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Intangible Assets Goodwill and Intangible Assets
Goodwill

Changes in the carrying amount of goodwill during the three months ended March 31, 2024 are summarized as follows:
Expedited Freight Intermodal Omni Logistics Consolidated
Balance as of December 31, 2023 $ 141,720  $ 136,986  $ —  $ 278,706 
Acquisition —  —  1,100,474  1,100,474 
Balance as of March 31, 2024 $ 141,720  $ 136,986  $ 1,100,474  $ 1,379,180 

The Company’s accumulated goodwill impairment is $25,686 related to impairment charges the Company recorded during 2016 pertaining to its Truckload Services reporting unit. The Truckload Services reporting unit operates within the Expedited Freight reportable segment.

Goodwill is tested for impairment on an annual basis and more often if indications of impairment exist. The Company conducts its annual impairment analyses as of June 30 each year. There have been no indicators of impairment during the three months ended March 31, 2024.
Other Intangible Assets

Changes in the carrying amount of acquired intangible assets during the three months ended March 31, 2024 are summarized as follows:

Gross Carrying Amount
Customer Relationships1
Non-Compete Agreements Trade Names Total
Balance as of December 31, 2023 $ 253,914  $ 6,407  $ 1,500  $ 261,821 
Acquisition 1,062,729  42,509  42,510  1,147,748 
Balance as of March 31, 2024 $ 1,316,643  $ 48,916  $ 44,010  $ 1,409,569 

Accumulated Amortization
Customer Relationships1
Non-Compete Agreements Trade Names Total
Balance as of December 31, 2023 $ 118,993  $ 6,539  $ 1,500  $ 127,032 
Amortization expense 15,243  1,449  1,417  18,109 
Balance as of March 31, 2024 $ 134,236  $ 7,988  $ 2,917  $ 145,141 
1 Carrying value as of March 31, 2024 and December 31, 2023 is inclusive of $16,501 of accumulated impairment.