| Summary of Intangible Assets |
The following table presents intangible assets as of:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
September 30, 2025 |
|
|
December 31, 2024 |
|
|
|
Gross
Carrying
Amount |
|
|
Accumulated Amortization |
|
|
Gross
Carrying
Amount |
|
|
Accumulated Amortization |
|
|
|
(in thousands) |
|
Customer relationships |
|
$ |
2,520,495 |
|
|
$ |
(1,403,173 |
) |
|
$ |
2,216,578 |
|
|
$ |
(1,198,125 |
) |
Developed technology |
|
|
95,600 |
|
|
|
(43,849 |
) |
|
|
95,600 |
|
|
|
(35,887 |
) |
Trade names |
|
|
73,500 |
|
|
|
(49,629 |
) |
|
|
64,500 |
|
|
|
(43,483 |
) |
Non-compete agreements |
|
|
13,050 |
|
|
|
(10,126 |
) |
|
|
13,050 |
|
|
|
(8,599 |
) |
Total intangible assets |
|
$ |
2,702,645 |
|
|
$ |
(1,506,777 |
) |
|
$ |
2,389,728 |
|
|
$ |
(1,286,094 |
) |
|
| 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) |
|
2025 (from October 1, 2025) |
|
$ |
73,722 |
|
2026 |
|
|
264,308 |
|
2027 |
|
|
204,085 |
|
2028 |
|
|
151,792 |
|
2029 |
|
|
96,507 |
|
Thereafter |
|
|
405,454 |
|
Total future intangible amortization expense |
|
$ |
1,195,868 |
|
|