Goodwill and Other Intangible Assets

12 Months Ended

Dec. 31, 2024

A summary of changes in the Company’s goodwill by reportable segment is as follows (in thousands):


	December 31, 2023	Acquisitions1	Dispositions2	Impairments3	Acquisition Accounting Adjustments	Foreign Currency	December 31, 2024
Segment
Vehicle Payments	$2,803,990	$73,217	$—	$—	$—	$(192,932)	$2,684,275
Corporate Payments	2,074,736	637,332	(58,220)	—	1,058	(25,772)	2,629,134
Lodging Payments	416,952	—	—	—	—	(3,514)	413,438
Other	349,280	—	—	(90,000)	—	(1,460)	257,820
	$5,644,958	$710,549	$(58,220)	$(90,000)	$1,058	$(223,678)	$5,984,667

1 Reflects the recognition of preliminary goodwill related to acquisitions completed by the Company during the year ended December 31, 2024.
2 Reflects goodwill derecognized in connection with the disposition of the Company's merchant solutions business in the U.S. See Note 19 for further information.
3 Represents the partial impairment of the goodwill within the Company's Payroll Card reporting unit during the year ended December 31, 2024. See Note 2 for further information.


	December 31, 2022	Acquisitions	Dispositions	Impairments	Acquisition Accounting Adjustments	Foreign Currency	December 31, 2023
Segment
Vehicle Payments	$2,530,391	$233,240	$(40,857)	$—	$4,389	$76,827	$2,803,990
Corporate Payments	1,906,070	149,553	—	—	(105)	19,218	2,074,736
Lodging Payments	416,044	—	—	—	(764)	1,672	416,952
Other	348,930	—	—	—	—	350	349,280
	$5,201,435	$382,793	$(40,857)	$—	$3,520	$98,067	$5,644,958

At December 31, 2024 and 2023, approximately $1.1 billion and $985.9 million of the Company’s goodwill is deductible for

tax purposes, respectively. Acquisition accounting adjustments recorded in 2024 and 2023 are a result of the Company

completing its acquisition accounting and working capital adjustments for certain prior year acquisitions. At December 31,

2024, goodwill is presented net of accumulated impairment losses of $90.0 million, all of which were recorded during the year

ended December 31, 2024 and are included in our Other category as described above. There were no accumulated impairment

losses as of December 31, 2023.

Other intangible assets consisted of the following at December 31 (in thousands):


		2024			2023
	Weighted- Avg Useful Life (Years)1	Gross Carrying Amounts	Accumulated Amortization	Net Carrying Amount	Gross Carrying Amounts	Accumulated Amortization	Net Carrying Amount
Customer and vendor relationships	16.8	$3,476,642	$(1,624,079)	$1,852,563	$3,044,522	$(1,511,173)	$1,533,349
Trade names and trademarks—indefinite lived	N/A	410,391	—	410,391	440,900	—	440,900
Trade names and trademarks—other	7.8	66,047	(13,055)	52,992	51,510	(15,334)	36,176
Technology	6.1	306,296	(245,038)	61,258	299,780	(238,819)	60,961
Non-compete agreements	3.7	52,412	(19,174)	33,238	85,111	(70,834)	14,277
Total other intangibles		$4,311,788	$(1,901,346)	$2,410,442	$3,921,823	$(1,836,160)	$2,085,663
N/A = Not Applicable
1 The weighted-average useful life calculation excludes fully amortized intangible assets.

Changes in foreign exchange rates resulted in $69.6 million and $32.4 million decreases to the carrying values of other

intangible assets in the years ended December 31, 2024 and 2023, respectively. Amortization expense related to intangible

assets for the years ended December 31, 2024, 2023 and 2022 was $230.8 million, $225.4 million and $227.2 million,

respectively. During the year ended December 31, 2024, the Company wrote-off the gross carrying amounts and the related

accumulated amortization of fully amortized intangible assets of approximately $70.3 million which were no longer being used.

Due to rebranding activity during the year ended December 31, 2024, the Company reassessed the useful lives of certain

trademarks. This resulted in a reclassification of $13.3 million from indefinite to finite-lived assets as of December 31, 2024. At

the time of change in estimate, which was applied prospectively, the Company tested these trademarks for impairment, which

resulted in no impairment charge.

The future estimated amortization of intangible assets at December 31, 2024 is as follows (in thousands):