| Schedule of Changes in Goodwill |
The following table summarizes changes in goodwill during the three months ended March 31, 2025 (in thousands):
|
|
|
|
|
|
| Balance at December 31, 2024 |
$ |
1,161,085
|
|
| Additions |
16,031 |
|
|
|
| Measurement adjustments |
(627) |
|
| Adjustments due to currency translation and other |
2,215 |
|
| Balance at March 31, 2025 |
$ |
1,178,704
|
|
|
| Schedule of Components of Indefinite-lived and Amortizable Intangible Assets |
The following table sets forth the components of indefinite-lived and amortizable intangible assets as of March 31, 2025 and December 31, 2024 (in thousands):
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|
|
|
|
|
|
|
|
|
|
|
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|
|
|
|
|
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|
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|
|
|
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|
|
|
March 31, 2025 |
|
December 31, 2024 |
|
|
|
Gross |
|
Accumulated
Amortization |
|
Carrying
Value |
|
Gross |
|
Accumulated
Amortization |
|
Carrying
Value |
|
Useful Life
in Years |
| Amortizable intangible assets: |
|
|
|
|
|
|
|
|
|
|
|
|
|
| Customer contracts |
$ |
662,885 |
|
|
$ |
(287,099) |
|
|
$ |
375,786 |
|
|
$ |
671,242 |
|
|
$ |
(288,150) |
|
|
$ |
383,092 |
|
|
3-20 |
| Trademarks and tradenames |
24,327 |
|
|
(13,534) |
|
|
10,793 |
|
|
24,559 |
|
|
(12,480) |
|
|
12,079 |
|
|
7-20 |
| Other intangible assets |
27,040 |
|
|
(18,532) |
|
|
8,508 |
|
|
26,507 |
|
|
(17,905) |
|
|
8,602 |
|
|
3-20 |
| Total amortizable intangible assets |
$ |
714,252 |
|
|
$ |
(319,165) |
|
|
$ |
395,087 |
|
|
$ |
722,308 |
|
|
$ |
(318,535) |
|
|
$ |
403,773 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Indefinite-lived intangible assets |
|
|
|
|
139,726 |
|
|
|
|
|
|
137,816 |
|
|
|
| Total customer contracts and other intangible assets |
|
|
|
|
$ |
534,813 |
|
|
|
|
|
|
$ |
541,589 |
|
|
|
|
| Schedule of Estimated Amortization Expense |
Estimated amortization expense for the existing carrying amount of amortizable intangible assets for each of the five succeeding fiscal years as of March 31, 2025 are as follows:
|
|
|
|
|
|
| (in thousands) |
|
| 2025 (excluding the three months ended March 31, 2025) |
$ |
60,954 |
|
| 2026 |
78,811 |
|
| 2027 |
74,925 |
|
| 2028 |
63,767 |
|
| 2029 |
49,867 |
|
|