4.  Goodwill and Other Intangible Assets

Goodwill represents the premium paid over the fair value of the net tangible and intangible assets that are individually identified and separately recognized in business combinations. The following table summarizes the changes in the carrying amount of goodwill by reportable segment for the years ended December 31, 2024 and 2023.

Information related to the Company’s other intangibles, net is as follows:

Customer relationships are amortized over thirteen years. Vendor relationships are amortized between eight and fifteen years. Trade name is amortized over fifteen years.

The Company recognized total amortization expense for other intangibles, net of $3.4 million and $2.2 million during the years ended December 31, 2024 and 2023, respectively.

Estimated future amortization expense of the Company’s other intangibles, net as of December 31, 2024 is as follows: