Quarterly report [Sections 13 or 15(d)]

GOODWILL AND INTANGIBLE ASSETS

v3.25.3
GOODWILL AND INTANGIBLE ASSETS
 9 Months Ended
Sep. 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 nine months ended September 30, 2025:
(in thousands)
Balance at December 31, 2024 $ 1,161,085 
Additions 193,291 
Measurement period adjustments (5,021)
Adjustments due to currency translation and other 8,887 
Balance at September 30, 2025 $ 1,358,242 
The following table sets forth the components of indefinite-lived and amortizable intangible assets as of September 30, 2025 and December 31, 2024.
September 30, 2025 December 31, 2024
(in thousands)
 Gross Accumulated
Amortization		 Carrying
Value		 Gross Accumulated
Amortization		 Carrying
Value		 Useful Life
in Years
Amortizable intangible assets:
Customer contracts $ 736,075  $ (314,325) $ 421,750  $ 671,242  $ (288,150) $ 383,092 
3-20
Trademarks and tradenames 25,963  (15,379) 10,584  24,559  (12,480) 12,079 
7-20
Other intangible assets 28,357  (19,529) 8,828  26,507  (17,905) 8,602 
3-20
Total amortizable intangible assets $ 790,395  $ (349,233) $ 441,162  $ 722,308  $ (318,535) $ 403,773 
Indefinite-lived intangible assets 157,029  137,816 
Total intangible assets, excluding goodwill $ 598,191  $ 541,589 
Amortization expense related to intangible assets was $23.7 million and $19.2 million for the three months ended September 30, 2025 and 2024, respectively. Amortization expense related to intangible assets was $67.4 million and $57.2 million for the nine months ended September 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 September 30, 2025 are as follows:
(in thousands)
2025 (excluding the nine months ended September 30, 2025) $ 22,955 
2026 91,265 
2027 87,149 
2028 75,990 
2029 62,041