| 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 March 31, 2026 | | $ | 41,038 |
Intangible assets other than goodwill at the dates indicated below consisted of the following: | | | | | | | | | | | | | | March 31, 2026 | | | Weighted | | Gross | | | | | | | | average | | Carrying | | Accumulated | | Net Book | | | remaining lives | | Amount | | Amortization | | Value | Intangible assets subject to amortization | | | | | | | | | | | | Customer relationships | | 1.9 | | $ | 133,105 | | $ | (113,661) | | $ | 19,444 | Non-compete agreement | | 1.8 | | | 349 | | | (224) | | | 125 | Total | | | | | 133,454 | | | (113,885) | | | 19,569 | Indefinite lived assets: | | | | | | | | | | | | Tradenames | | | | | 16,400 | | | — | | | 16,400 | Total intangible assets other than goodwill | | | | $ | 149,854 | | $ | (113,885) | | $ | 35,969 |
| | | | | | | | | | | | | | 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 three months ended March 31, 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 March 31, 2026 for each of the next five years and thereafter is as follows: | | | | Rest of 2026 | | $ | 9,516 | 2027 | | | 8,270 | 2028 | | | 778 | 2029 | | | 525 | 2030 | | | 456 | Thereafter | | | 24 | Total | | $ | 19,569 |
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