Goodwill and Other Intangible Assets, Net

3 Months Ended

Mar. 31, 2025

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Other Intangible Assets, Net

The changes in the carrying amount of goodwill were as follows (in thousands):


	Goodwill
Balance at December 31, 2024	$	540,290

Measurement period adjustments	100
Cumulative translation adjustment	276
Balance at March 31, 2025	$	540,666

For additional information on Goodwill, see Note 4—“Acquisitions.”

Goodwill is not amortized and is reviewed annually for impairment or more frequently if impairment indicators arise, in accordance with U.S. GAAP guidance on Goodwill and Other Intangible Assets.

Other intangible assets consisted of the following (in thousands, except weighted-average remaining life):


	March 31, 2025
	Gross Amount		Accumulated Amortization		Net Carrying Amount		Weighted- Average Remaining Life (Years)
Definite life intangible assets:
Customer-related	$	256,441	$	118,320	$	138,121	10.7
Technology	23,997		23,997		—		N/A
Noncompete agreements	21,815		20,890		925		1.4
Patents	12,706		11,218		1,488		2.7
All other	19,877		7,072		12,805		12.0
Total definite life intangible assets	334,836		181,497		153,339
Indefinite life intangible assets:
Trade names	79,570		—		79,570		N/A
Licenses	2,594		—		2,594		N/A
Domain name	454		—		454		N/A
Total indefinite life intangible assets	82,618		—		82,618		N/A
Total	$	417,454	$	181,497	$	235,957


	December 31, 2024
	Gross Amount		Accumulated Amortization		Net Carrying Amount		Weighted- Average Remaining Life (Years)
Definite life intangible assets:
Customer-related	$	256,374	$	113,590	$	142,784	10.8
Technology	23,997		23,997		—		N/A
Noncompete agreements	21,815		20,621		1,194		1.5
Patents	12,577		11,102		1,475		2.7
All other	19,937		6,711		13,226		12.1
Total definite life intangible assets	334,700		176,021		158,679
Indefinite life intangible assets:
Trade names	79,570		—		79,570		N/A
Licenses	2,207		—		2,207		N/A
Domain name	454		—		454		N/A
Total indefinite life intangible assets	82,231		—		82,231		N/A
Total	$	416,931	$	176,021	$	240,910

Intangible amortization expense was $5.5 million and $4.9 million for the three months ended March 31, 2025 and 2024, respectively. Intangible amortization is included as part of “Other expenses” in the Company’s unaudited Condensed Consolidated Statements of Operations. There were no impairment charges for the Company’s definite and indefinite life intangibles for the three months ended March 31, 2025 and 2024.

The estimated future amortization expense of definite life intangible assets as of March 31, 2025 is as follows (in millions):


2025	$	15.9
2026	20.2
2027	15.9
2028	15.1
2029	11.4
2029 and thereafter	74.8
Total	$	153.3