Schedule of Goodwill |
Changes in the carrying amount of goodwill during the six months ended June 30, 2024 are summarized as follows:
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Expedited Freight |
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Intermodal |
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Omni Logistics |
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Consolidated |
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Balance as of December 31, 2023 |
$ |
141,720 |
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$ |
136,986 |
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$ |
— |
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$ |
278,706 |
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Acquisition |
— |
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— |
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1,359,388 |
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1,359,388 |
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Impairment |
— |
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— |
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(1,092,714) |
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(1,092,714) |
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Balance as of June 30, 2024 |
$ |
141,720 |
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$ |
136,986 |
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$ |
266,674 |
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$ |
545,380 |
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Schedule of Other Intangible Assets |
Changes in the carrying amount of acquired intangible assets during the six months ended June 30, 2024 are summarized as follows:
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Gross Carrying Amount |
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Customer Relationships1
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Non-Compete Agreements |
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Trade Names |
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Total |
Balance as of December 31, 2023 |
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$ |
253,914 |
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$ |
6,407 |
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$ |
1,500 |
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$ |
261,821 |
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Acquisition |
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1,062,729 |
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42,509 |
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42,510 |
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1,147,748 |
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Balance as of June 30, 2024 |
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$ |
1,316,643 |
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$ |
48,916 |
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$ |
44,010 |
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$ |
1,409,569 |
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Accumulated Amortization |
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Customer Relationships1
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Non-Compete Agreements |
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Trade Names |
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Total |
Balance as of December 31, 2023 |
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$ |
118,993 |
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$ |
6,539 |
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$ |
1,500 |
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$ |
127,032 |
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Amortization expense |
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44,690 |
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3,606 |
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3,542 |
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51,838 |
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Balance as of June 30, 2024 |
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$ |
163,683 |
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$ |
10,145 |
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$ |
5,042 |
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$ |
178,870 |
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1 Carrying value as of June 30, 2024 and December 31, 2023 is inclusive of $16,501 of accumulated impairment.
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