Quarterly report [Sections 13 or 15(d)]

GOODWILL AND INTANGIBLE ASSETS

v3.25.2
GOODWILL AND INTANGIBLE ASSETS
 6 Months Ended
Jun. 30, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
GOODWILL AND INTANGIBLE ASSETS GOODWILL AND INTANGIBLE ASSETS
The following table summarizes changes in goodwill during the six months ended June 30, 2025 (in thousands):
Balance at December 31, 2024 $ 1,161,085 
Additions 168,079 
Measurement adjustments (1,144)
Adjustments due to currency translation and other 9,883 
Balance at June 30, 2025 $ 1,337,903 
The following table sets forth the components of indefinite-lived and amortizable intangible assets as of June 30, 2025 and December 31, 2024 (in thousands):
June 30, 2025 December 31, 2024
Gross Accumulated
Amortization		 Carrying
Value		 Gross Accumulated
Amortization		 Carrying
Value		 Useful Life
in Years
Amortizable intangible assets:
Customer contracts $ 722,944  $ (298,825) $ 424,119  $ 671,242  $ (288,150) $ 383,092 
3-20
Trademarks and tradenames 25,220  (14,279) 10,941  24,559  (12,480) 12,079 
7-20
Other intangible assets 28,041  (19,162) 8,879  26,507  (17,905) 8,602 
3-20
Total amortizable intangible assets $ 776,205  $ (332,266) $ 443,939  $ 722,308  $ (318,535) $ 403,773 
Indefinite-lived intangible assets 157,031  137,816 
Total intangible assets, excluding goodwill $ 600,970  $ 541,589 
Amortization expense related to intangible assets was $22.9 million and $19.3 million for the three months ended June 30, 2025 and 2024, respectively. Amortization expense related to intangible assets was $43.7 million and $38.0 million for the six months ended June 30, 2025 and 2024, respectively. Amortizable intangible assets are amortized on a straight-line basis over their economic useful lives.
Estimated amortization expense for the existing carrying amount of amortizable intangible assets for each of the five succeeding fiscal years as of June 30, 2025 are as follows:
(in thousands)
2025 (excluding the six months ended June 30, 2025) $ 45,593 
2026 89,189 
2027 85,073 
2028 73,915 
2029 59,965