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:

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In connection with our annual assessment on October 1, we performed a qualitative assessment based on information currently available in determining if it was more likely than not that the fair value of the Company’s HFS – South reporting unit was less than the carrying amount. This assessment considered various factors, including changes in the carrying value of the reporting unit, forecasted operating results, other qualitative key events and circumstances, including the macroeconomic environment, the industry, market conditions, cost factors, and events specific to the reporting unit.  Based on the results of this qualitative assessment, management concluded that it is not more likely than not that the fair value of the Company's HFS – South reporting unit was less than its carrying amount.

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

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The aggregate amortization expense for intangible assets subject to amortization was $13.5 million, $13.5 million and $13.4 million for the years ended December 31, 2025, 2024 and 2023, respectively, and is included in other depreciation and amortization in the consolidated statements of comprehensive income (loss).  

The estimated aggregate amortization expense as of December 31, 2025 for each of the next five years and thereafter is as follows:

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