GOODWILL AND OTHER INTANGIBLE ASSETS

6 Months Ended

Jun. 30, 2026

Intangible Asset, Goodwill and Other [Abstract]

The change in carrying amount of goodwill is as follows (in thousands):


	NAST		Global Forwarding		All Other and Corporate		Total
Balance, December 31, 2025	$	1,202,093	$	208,472	$	47,411	$	1,457,976
Foreign currency translation	2,350		(1,149)		116		1,317
Acquisitions(1)	49,042		—		—		49,042
Balance, June 30, 2026	$	1,253,485	$	207,323	$	47,527	$	1,508,335

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(1) On June 22, 2026, we acquired DeSpir Logistics, a specialized provider of secure transportation solutions and cargo escort services for mission-critical, high-value freight across North America. Refer to Note 15, Acquisitions, for further discussion related to the acquisition of DeSpir Logistics.

Goodwill is tested annually for impairment on November 30, or more frequently if events or changes in circumstances indicate that the asset might be impaired. We first perform a qualitative assessment to determine whether it is more likely than not that the fair value of our reporting units is less than their respective carrying value (“Step Zero Analysis”). If the Step Zero Analysis indicates it is more likely than not that the fair value of our reporting units is less than their respective carrying value, an additional impairment assessment is performed (“Step One Analysis”). As part of our 2025 annual impairment test, we determined that the fair value of our reporting units exceeded their respective carrying values and our goodwill balance was not impaired.

There were no changes in circumstances or events identified in the second quarter of 2026 that would indicate an interim impairment analysis was required for any of our remaining reporting units as of June 30, 2026.

Identifiable intangible assets consisted of the following (in thousands):


	June 30, 2026						December 31, 2025
	Cost		Accumulated Amortization		Net		Cost		Accumulated Amortization		Net
Finite-lived intangibles
Customer relationships	$	71,600	$	(49,762)	$	21,838	$	72,109	$	(62,535)	$	9,574


Indefinite-lived intangibles
Trademarks	16,900		—		16,900		8,600		—		8,600
Total intangibles	$	88,500	$	(49,762)	$	38,738	$	80,709	$	(62,535)	$	18,174

Amortization expense for other intangible assets is as follows (in thousands):


	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
Amortization expense	$	1,964	$	2,574	$	4,336	$	5,111

Finite-lived intangible assets as of June 30, 2026 will be amortized over their remaining lives as follows (in thousands):


Remainder of 2026	$	4,758
2027	2,970
2028	1,660
2029	1,660
2030	1,660
Thereafter	9,130
Total(1)	$	21,838

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(1) All remaining amortization expense for finite-lived intangible assets relates to our NAST reportable segment.