In 2025, 2024, and 2023, the Company performed a quantitative assessment of all reporting units as of October 1. We utilized a combination of the discounted cash flow analysis or “income approach” (50%) and the “market approach” (50%).

Our 2025, 2024, and 2023 goodwill impairment analyses concluded that the fair values of all reporting units were in excess of their carrying amounts. Subsequent to completing our goodwill impairment tests, no further indicators of impairment were identified. Based on these analyses, we recorded no goodwill impairment for the years ended December 31, 2025, 2024, and 2023.

The determination of whether the carrying value of the reporting unit exceeds its fair value involves a high degree of estimation and can be affected by a number of industry and company-specific risk factors that are subject to change over time. If actual performance does not achieve the projections, or if the assumptions used change in the future, we may be required to recognize additional impairment charges in future periods.

A summary of changes to goodwill is as follows (in thousands):


	Goodwill
	Pharmacy Solutions		Provider Services			Total
Goodwill at January 1, 2024*	$	833,989	$	1,466,783		$	2,300,772
Goodwill added through acquisitions		7,063		56,144			63,207
Measurement period adjustments		—		237			237
Foreign currency adjustments		—		(332	)		(332	)
Goodwill at December 31, 2024*	$	841,052	$	1,522,832		$	2,363,884
Goodwill added through acquisitions		—		181,472			181,472
Measurement period adjustments		—		128			128
Foreign currency adjustments		—		189			189
Goodwill at December 31, 2025*	$	841,052	$	1,704,621		$	2,545,673

* For the periods presented, the carrying amount of goodwill is presented net of accumulated impairment losses of $40.9 million, which were incurred in fiscal year 2022.

Intangible assets are as follows (in thousands):


	December 31, 2025						December 31, 2024
	Gross		Accumulated Amortization		Net Carrying Value		Gross		Accumulated Amortization		Net Carrying Value		Life (Years)
Customer relationships	$	502,160	$	356,146	$	146,014	$	542,137	$	335,647	$	206,490	5-20
Trade names		318,768		154,601		164,167		332,977		140,020		192,957	2-20
Licenses		67,395		18,886		48,509		68,425		17,528		50,897	10-20
Doctor/payor network		5,650		4,987		663		12,730		10,965		1,765	5-8
Covenants not to compete		6,654		4,717		1,937		8,790		5,886		2,904	2-7
Other intangible assets		10,940		7,925		3,015		10,940		6,362		4,578	5-7
Total definite-lived assets	$	911,567	$	547,262	$	364,305	$	975,999	$	516,408	$	459,591
Licenses		193,250		—		193,250		135,633		—		135,633	Indefinite
Total intangible assets	$	1,104,817	$	547,262	$	557,555	$	1,111,632	$	516,408	$	595,224

Amortization expense for the years ended December 31, 2025, 2024, and 2023 was $91.1 million, $95.3 million, and $103.3 million, respectively.