v3.24.1.u1
Intangible Assets (Tables)
3 Months Ended
Mar. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
Summary of Intangible Assets

The following table presents intangible assets as of:

 

 

 

March 31, 2024

 

 

December 31, 2023

 

 

 

Gross
Carrying
Amount

 

 

Accumulated Amortization

 

 

Gross
Carrying
Amount

 

 

Accumulated Amortization

 

 

 

(in thousands)

 

Customer relationships

 

$

2,129,819

 

 

$

(987,294

)

 

$

2,105,730

 

 

$

(912,865

)

Trade names

 

 

64,500

 

 

 

(38,614

)

 

 

64,500

 

 

 

(36,459

)

Non-compete agreements

 

 

13,050

 

 

 

(6,825

)

 

 

13,050

 

 

 

(6,223

)

Developed technology

 

 

95,600

 

 

 

(27,855

)

 

 

95,600

 

 

 

(25,160

)

Total intangible assets

 

$

2,302,969

 

 

$

(1,060,588

)

 

$

2,278,880

 

 

$

(980,707

)

Estimated Amortization Expense for Intangible Assets

The following table presents the estimated amortization expense for intangible assets for the years ending December 31:

 

 

 

(in thousands)

 

2024 (from April 1, 2024)

 

$

214,524

 

2025

 

 

220,514

 

2026

 

 

192,162

 

2027

 

 

150,048

 

2028

 

 

124,052

 

Thereafter

 

 

341,081

 

Total future net intangible amortization expense

 

$

1,242,381