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Intangible Assets, Net
 9 Months Ended
Sep. 30, 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 September 30, 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

$

5,293,814

$

(3,382,530)

$

1,911,284

$

5,253,563

$

(3,394,009)

$

1,859,554

Network location intangibles

1,919,993

(1,338,917)

581,076

1,926,226

(1,330,183)

596,043

Intangible assets, net

$

7,213,807

$

(4,721,447)

$

2,492,360

$

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 $26.4 million and $100.4 million for the three months ended September 30, 2024 and 2023, respectively and $79.8 million and $303.5 million for the nine months ended September 30, 2024 and 2023, respectively. As a result of the Company’s revision of the estimated useful lives of its towers, the Company experienced decreased amortization expense for the three and nine months ended September 30, 2024 when compared to the comparable prior year period.