Intangible Assets (Tables)

3 Months Ended

Mar. 31, 2026

Intangible Asset, Goodwill and Other [Abstract]

Intangible Asset, Finite-Lived

Our identifiable intangible assets consist of the following:

(in millions)	Gross		Accumulated Amortization		Impairment		Net
As of March 31, 2026:
Permits and leasehold agreements	$	1,545.1	$	(996.7)	$	—	$	548.4
Franchise agreements(a)	866.6		(330.8)		(485.8)		50.0
Other intangible assets	18.1		(12.9)		—		5.2
Total intangible assets	$	2,429.8	$	(1,340.4)	$	(485.8)	$	603.6
As of December 31, 2025:
Permits and leasehold agreements	$	1,538.1	$	(983.8)	$	—	$	554.3
Franchise agreements(a)	909.0		(371.7)		(485.8)		51.5
Other intangible assets	18.2		(12.0)		—		6.2
Total intangible assets	$	2,465.3	$	(1,367.5)	$	(485.8)	$	612.0

(a)We reclassified all Prepaid MTA equipment deployment costs and recorded impairments in the first and second quarters of 2024, due to the long-term outlook of our Transit reporting unit.