Intangible Assets, Net

3 Months Ended

Mar. 31, 2024

Intangible Assets, Net [Abstract]

Intangible Assets, Net

8.INTANGIBLE ASSETS, NET

The following table provides the gross and net carrying amounts for each major class of intangible assets:

	As of March 31, 2024						As of December 31, 2023
	Gross carrying		Accumulated		Net book		Gross carrying		Accumulated		Net book
	amount		amortization		value		amount		amortization		value
	(in thousands)
Current contract intangibles	$	5,211,395	$	(3,393,680)	$	1,817,715	$	5,253,563	$	(3,394,009)	$	1,859,554
Network location intangibles		1,919,174		(1,333,040)		586,134		1,926,226		(1,330,183)		596,043
Intangible assets, net	$	7,130,569	$	(4,726,720)	$	2,403,849	$	7,179,789	$	(4,724,192)	$	2,455,597

All intangible assets noted above are included in the Company’s site leasing segment. Amortization expense relating to the intangible assets above was $27.1 million and $101.8 million for the three months ended March 31, 2024 and 2023, respectively. As a result of the Company’s revision of the estimated useful lives of certain intangible assets, the Company experienced decreased amortization expense for the three months ended March 31, 2024.