Goodwill and Intangible Assets (Tables)

6 Months Ended

Jun. 30, 2025

Goodwill [Line Items]

Schedule of Changes in the Carrying Amount of Goodwill

Changes in the carrying amount of goodwill were as follows during the six months ended June 30, 2025 (in thousands):

	Net Carrying
	Amount
Balance as of December 31, 2024	$	1,417,724
Acquisition of EvolutionIQ, Inc.		538,761
Balance as of June 30, 2025	$	1,956,485

Summary of Intangible Assets Balance

The intangible assets balance as of June 30, 2025 is reflected below (in thousands):

		Weighted-
		Average
	Estimated	Remaining	Gross					Net
	Useful Life	Useful Life	Carrying		Accumulated			Carrying
	(Years)	(Years)	Amount		Amortization			Amount
Customer relationships	16-18	10.1	$	1,324,130	$	(587,715	)	$	736,415
Acquired technologies	7-8	7.4		139,100		(10,737	)		128,363
Trademarks	5	4.5		1,300		(130	)		1,170
Subtotal				1,464,530		(598,582	)		865,948
Trademarks—indefinite life				190,470		—			190,470
Total intangible assets			$	1,655,000	$	(598,582	)	$	1,056,418

The intangible assets balance as of December 31, 2024 is reflected below (in thousands):

			Weighted-
			Average
	Estimated		Remaining	Gross					Net
	Useful Life		Useful Life	Carrying		Accumulated			Carrying
	(Years)		(Years)	Amount		Amortization			Amount
Customer relationships		18	10.3	$	1,291,830	$	(550,822	)	$	741,008
Acquired technologies	7		4.1		4,800		(2,000	)		2,800
Subtotal					1,296,630		(552,822	)		743,808
Trademarks—indefinite life					190,470		—			190,470
Total intangible assets				$	1,487,100	$	(552,822	)	$	934,278

Schedule of Future Amortization Expense for Intangible Assets

Future amortization expense for the remainder of the year ended December 31, 2025 and the following four years ended December 31 and thereafter for intangible assets as of June 30, 2025 is as follows (in thousands):

Years Ending December 31:
2025		45,760
2026		91,520
2027		91,520
2028		91,520
2029		90,891
Thereafter		454,737
Total	$	865,948