| Changes in the carrying amount of goodwill by segment |
Changes in the carrying amount of goodwill for the years ended December 31, 2022 and 2021, by segment, were as follows, in thousands:
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Accumulated |
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Gross Goodwill |
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Fx Translation |
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Gross Goodwill |
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Impairment |
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Net Goodwill |
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|
December 31, 2021 |
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Additions |
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Adjustment |
|
December 31, 2022 |
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Losses |
|
December 31, 2022 |
Goodwill, by segment: |
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Installation |
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$ |
1,818,872 |
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$ |
8,107 |
|
$ |
- |
|
$ |
1,826,979 |
|
$ |
(762,021) |
|
$ |
1,064,958 |
Specialty Distribution |
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|
892,912 |
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|
10,585 |
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|
(1,461) |
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|
902,036 |
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- |
|
|
902,036 |
Total goodwill |
|
$ |
2,711,784 |
|
$ |
18,692 |
|
$ |
(1,461) |
|
$ |
2,729,015 |
|
$ |
(762,021) |
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$ |
1,966,994 |
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Accumulated |
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Gross Goodwill |
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Fx Translation |
|
Gross Goodwill |
|
Impairment |
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Net Goodwill |
|
|
December 31, 2020 |
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Additions |
|
Adjustment |
|
December 31, 2021 |
|
Losses |
|
December 31, 2021 |
Goodwill, by segment: |
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Installation |
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$ |
1,726,356 |
|
$ |
92,516 |
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$ |
- |
|
$ |
1,818,872 |
|
$ |
(762,021) |
|
$ |
1,056,851 |
Specialty Distribution |
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|
446,350 |
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|
451,331 |
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(4,769) |
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|
892,912 |
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- |
|
|
892,912 |
Total goodwill |
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$ |
2,172,706 |
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$ |
543,847 |
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$ |
(4,769) |
|
$ |
2,711,784 |
|
$ |
(762,021) |
|
$ |
1,949,763 |
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| Schedule of other intangible assets |
The following table sets forth our other intangible assets, in thousands:
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As of December 31, |
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2022 |
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2021 |
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2020 |
Gross definite-lived intangible assets |
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$ |
782,316 |
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$ |
783,843 |
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$ |
252,751 |
Accumulated amortization |
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(167,349) |
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|
(99,634) |
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(62,146) |
Net definite-lived intangible assets |
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$ |
614,967 |
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$ |
684,209 |
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$ |
190,605 |
Indefinite-lived intangible assets not subject to amortization |
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- |
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- |
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|
- |
Other intangible asset, net |
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$ |
614,967 |
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$ |
684,209 |
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$ |
190,605 |
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|
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Amortization expense |
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$ |
67,620 |
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$ |
36,501 |
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$ |
21,886 |
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| Schedule of other intangible assets |
The following table sets forth a breakout of our intangible assets as of December 31, 2022, in thousands:
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Gross Definite-lived Intangible Assets |
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Accumulated Amortization |
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Net Definite-lived Intangible Assets |
Trademarks |
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|
|
$ |
44,047 |
|
$ |
(13,513) |
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$ |
30,534 |
Customer relationships |
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|
730,550 |
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(146,192) |
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|
584,358 |
Non-compete |
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|
7,719 |
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(7,644) |
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|
75 |
Total |
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$ |
782,316 |
|
$ |
(167,349) |
|
$ |
614,967 |
The following table sets forth a breakout of our intangible assets as of December 31, 2021, in thousands:
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Gross Definite-lived Intangible Assets |
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Accumulated Amortization |
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Net Definite-lived Intangible Assets |
Trademarks |
|
|
|
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$ |
44,365 |
|
$ |
(8,161) |
|
$ |
36,204 |
Customer relationships |
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|
731,759 |
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(84,499) |
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|
647,260 |
Non-compete |
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|
7,719 |
|
|
(6,974) |
|
|
745 |
Total |
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|
|
|
$ |
783,843 |
|
$ |
(99,634) |
|
$ |
684,209 |
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