Goodwill and Other Intangible Assets, net

6 Months Ended

Jun. 30, 2026

Goodwill and Other Intangible Assets, net

Goodwill and Other Intangible Assets, net

5. Goodwill and Other Intangible Assets, net

The financial statements reflect goodwill from previous acquisitions that is all attributable to the HFS – South business segment and reporting unit.

Changes in the carrying amount of goodwill were as follows:


		HFS - South
Balance at January 1, 2025		$	41,038
Changes in Goodwill			—
Balance at December 31, 2025			41,038
Changes in Goodwill			—
Balance at June 30, 2026		$	41,038

Intangible assets other than goodwill at the dates indicated below consisted of the following:


		June 30, 2026
		Weighted		Gross
		average		Carrying			Accumulated			Net Book
		remaining lives		Amount			Amortization			Value
Intangible assets subject to amortization
Customer relationships		1.7		$	133,105		$	(117,012)		$	16,093
Non-compete agreement		1.6			349			(241)			108
Total					133,454			(117,253)			16,201
Indefinite lived assets:
Tradenames					16,400			—			16,400
Total intangible assets other than goodwill				$	149,854		$	(117,253)		$	32,601


		December 31, 2025
		Weighted		Gross
		average		Carrying			Accumulated			Net Book
		remaining lives		Amount			Amortization			Value
Intangible assets subject to amortization
Customer relationships		2.0		$	133,105		$	(110,316)		$	22,789
Non-compete agreement		2.1			349			(206)			143
Total					133,454			(110,522)			22,932
Indefinite lived assets:
Tradenames					16,400			—			16,400
Total intangible assets other than goodwill				$	149,854		$	(110,522)		$	39,332

For the six months ended June 30, 2026 and 2025, amortization expense related to intangible assets was $6.7 million and $6.7 million, respectively, and is included in other depreciation and amortization in the accompanying consolidated statements of comprehensive loss. For the three months ended June 30, 2026 and 2025, amortization expense related to intangible assets was $3.4 million and $3.4 million, respectively, and is included in other depreciation and amortization in the accompanying consolidated statements of comprehensive loss.

The estimated aggregate amortization expense as of June 30, 2026 for each of the next five years and thereafter is as follows:


Rest of 2026	$	6,148
2027		8,270
2028		778
2029		525
2030		456
Thereafter		24
Total	$	16,201