GOODWILL AND INTANGIBLE ASSETS (Tables)
|
9 Months Ended |
Sep. 30, 2022 |
|---|
| Goodwill and Intangible Assets Disclosure [Abstract] |
|
| Schedule of Goodwill |
The change in the carrying value of goodwill for the nine months ended September 30, 2022, was as follows (in thousands):
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|
|
|
|
| Balance as of December 31, 2021 |
$ |
437,398 |
|
| Acquisition of Alante Air |
13,069 |
|
| Acquisition of Air Partner |
83,399 |
|
| Foreign currency translation adjustments |
(12,019) |
|
| Balance as of September 30, 2022 |
$ |
521,847 |
|
|
| Schedule of Intangible Assets |
The gross carrying value, accumulated amortization and net carrying value of intangible assets consisted of the following (in thousands):
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September 30, 2022 |
|
Gross Carrying
Value |
|
Accumulated Amortization |
|
Net Carrying
Value |
| Status |
$ |
80,000 |
|
|
$ |
21,644 |
|
|
$ |
58,356 |
|
| Customer relationships |
88,608 |
|
|
21,640 |
|
|
66,968 |
|
| Non-competition agreement |
210 |
|
|
210 |
|
|
— |
|
| Trade name |
15,867 |
|
|
7,406 |
|
|
8,461 |
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| Developed technology |
20,402 |
|
|
8,570 |
|
|
11,832 |
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| Leasehold interest - favorable |
600 |
|
|
74 |
|
|
526 |
|
| Backlog |
1,235 |
|
|
497 |
|
|
738 |
|
| Total |
$ |
206,922 |
|
|
$ |
60,041 |
|
|
$ |
146,881 |
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|
December 31, 2021 |
|
Gross Carrying
Value |
|
Accumulated Amortization |
|
Net Carrying
Value |
| Status |
$ |
80,000 |
|
|
$ |
15,644 |
|
|
$ |
64,356 |
|
| Customer relationships |
74,600 |
|
|
14,443 |
|
|
60,157 |
|
| Non-competition agreement |
210 |
|
|
209 |
|
|
1 |
|
| Trade name |
14,230 |
|
|
5,493 |
|
|
8,737 |
|
| Developed technology |
19,545 |
|
|
6,380 |
|
|
13,165 |
|
| Leasehold interest - favorable |
600 |
|
|
57 |
|
|
543 |
|
| Total |
$ |
189,185 |
|
|
$ |
42,226 |
|
|
$ |
146,959 |
|
|
| Schedule of Intangible Liabilities |
The gross carrying value, accumulated amortization and net carrying value of intangible liabilities consisted of the following (in thousands):
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September 30, 2022 |
|
Gross Carrying
Value |
|
Accumulated Amortization |
|
Net Carrying
Value |
| Intangible liabilities |
$ |
20,000 |
|
|
$ |
5,417 |
|
|
$ |
14,583 |
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December 31, 2021 |
|
Gross Carrying
Value |
|
Accumulated Amortization |
|
Net Carrying
Value |
| Intangible liabilities |
$ |
20,000 |
|
|
$ |
3,917 |
|
|
$ |
16,083 |
|
|
| Schedule of Future Amortization Expense of Intangible Assets and Intangible Liabilities |
Future amortization expense of intangible assets and intangible liabilities held as of September 30, 2022, are as follows (in thousands):
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| Year ending December 31, |
Intangible Assets |
|
Intangible Liabilities |
| 2022 (excluding the nine months ended September 30, 2022) |
$ |
6,295 |
|
|
$ |
500 |
|
| 2023 |
23,296 |
|
|
2,000 |
|
| 2024 |
22,643 |
|
|
2,000 |
|
| 2025 |
22,230 |
|
|
2,000 |
|
| 2026 |
21,386 |
|
|
2,000 |
|
| Thereafter |
51,031 |
|
|
6,083 |
|
| Total |
$ |
146,881 |
|
|
$ |
14,583 |
|
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