Intangible Assets, Net

12 Months Ended

Dec. 31, 2024

Intangible Assets, Net [Abstract]

Intangible Assets, Net

9.INTANGIBLE ASSETS, NET

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

	As of December 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	$	5,164,263	$	(3,338,705)	$	1,825,558	$	5,253,563	$	(3,394,009)	$	1,859,554
Network location intangibles		1,896,754		(1,333,605)		563,149		1,926,226		(1,330,183)		596,043
Intangible assets, net	$	7,061,017	$	(4,672,310)	$	2,388,707	$	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 $107.1 million, $397.0 million, and $406.0 million for the years ended December 31, 2024, 2023, and 2022, 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 year ended December 31, 2024 when compared to the prior years.

Estimated amortization expense on the Company’s intangibles assets is as follows:

For the year ended December 31,	(in thousands)
2025	$	106,371
2026		106,198
2027		106,177
2028		106,166
2029		106,166