GOODWILL AND INTANGIBLE ASSETS (Tables)
|
9 Months Ended |
Sep. 30, 2021 |
|---|
| Goodwill and Intangible Assets Disclosure [Abstract] |
|
| Schedule of Goodwill |
The change in the carrying value of goodwill for the nine months ended September 30, 2021, was as follows (in thousands):
|
|
|
|
|
|
| Balance as of December 31, 2020 |
$ |
400,160 |
|
| Acquisition of Mountain Aviation |
37,021 |
|
| Balance as of September 30, 2021 |
$ |
437,181 |
|
|
| Schedule of Finite-Lived Intangible Assets |
The gross carrying value, accumulated amortization and net carrying value of intangible assets consisted of the following (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
September 30, 2021 |
|
Gross Carrying
Value |
|
Accumulated Amortization |
|
Net Carrying
Value |
| Status |
$ |
80,000 |
|
|
$ |
13,644 |
|
|
$ |
66,356 |
|
| Customer relationships |
74,600 |
|
|
12,478 |
|
|
62,122 |
|
| Non-competition agreement |
210 |
|
|
181 |
|
|
29 |
|
| Trade name |
14,230 |
|
|
4,739 |
|
|
9,491 |
|
| Developed technology |
19,545 |
|
|
5,675 |
|
|
13,870 |
|
| Leasehold interest - favorable |
600 |
|
|
52 |
|
|
548 |
|
| Total |
$ |
189,185 |
|
|
$ |
36,769 |
|
|
$ |
152,416 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, 2020 |
|
Gross Carrying
Value |
|
Accumulated Amortization |
|
Net Carrying
Value |
| Status |
$ |
80,000 |
|
|
$ |
7,645 |
|
|
$ |
72,355 |
|
| Customer relationships |
70,000 |
|
|
6,609 |
|
|
63,391 |
|
| Non-competition agreement |
100 |
|
|
100 |
|
|
— |
|
| Trade name |
13,900 |
|
|
2,487 |
|
|
11,413 |
|
| Developed technology |
19,545 |
|
|
3,559 |
|
|
15,986 |
|
| Leasehold interest - favorable |
600 |
|
|
35 |
|
|
565 |
|
| Total |
$ |
184,145 |
|
|
$ |
20,435 |
|
|
$ |
163,710 |
|
|
| Schedule of Intangible Liabilities |
The gross carrying value, accumulated amortization and net carrying value of intangible liabilities consisted of the following (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
September 30, 2021 |
|
Gross Carrying
Value |
|
Accumulated Amortization |
|
Net Carrying
Value |
| Intangible liabilities |
$ |
20,000 |
|
|
$ |
3,417 |
|
|
$ |
16,583 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, 2020 |
|
Gross Carrying
Value |
|
Accumulated Amortization |
|
Net Carrying
Value |
| Intangible liabilities |
$ |
20,000 |
|
|
$ |
1,917 |
|
|
$ |
18,083 |
|
|
| Schedule of Finite-Lived Intangible Assets and Liabilities, Future Amortization Expense |
Future amortization expense of intangible assets and intangible liabilities held as of September 30, 2021 are as follows (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
| Year ending December 31, |
Intangible Assets |
|
Intangible Liabilities |
| 2021 |
$ |
5,450 |
|
|
$ |
500 |
|
| 2022 |
20,124 |
|
|
2,000 |
|
| 2023 |
19,864 |
|
|
2,000 |
|
| 2024 |
19,701 |
|
|
2,000 |
|
| 2025 |
19,288 |
|
|
2,000 |
|
| Thereafter |
67,989 |
|
|
8,083 |
|
| Total |
$ |
152,416 |
|
|
$ |
16,583 |
|
|