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Goodwill and Other Intangibles

3 Months Ended

Mar. 31, 2025

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Other Intangibles

Goodwill and Other Intangibles

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

 

						December 31, 2024						Acquisitions1																		Acquisition Accounting Adjustments						Foreign Currency						March 31, 2025
Goodwill						$	5,984,667					$	116,718																	$	3,706					$	86,596					$	6,191,687

1 Reflects the recognition of preliminary goodwill assigned to the Vehicle Payments segment related to the Gringo acquisition completed by the Company during the three months ended March 31, 2025.

At March 31, 2025, the Company's goodwill is presented net of accumulated impairment losses of $90.0 million, all of which were recorded during the year ended December 31, 2024.

As of March 31, 2025 and December 31, 2024, other intangibles consisted of the following (in thousands):

												March 31, 2025																		December 31, 2024
						Weighted- Avg Useful Lives (Years)						Gross Carrying Amounts						Accumulated Amortization						Net Carrying Amount						Gross Carrying Amounts						Accumulated Amortization						Net Carrying Amount
Customer and vendor relationships						16.7						$	3,558,587					$	(1,706,292)					$	1,852,295					$	3,476,642					$	(1,624,079)					$	1,852,563
Trade names and trademarks—indefinite lived						N/A						419,810						—						419,810						410,391						—						410,391
Trade names and trademarks—other						2.7						66,195						(15,592)						50,603						66,047						(13,055)						52,992
Software						5.8						310,159						(253,889)						56,270						306,296						(245,038)						61,258
Non-compete agreements						3.7						51,508						(22,930)						28,578						52,412						(19,174)						33,238
Total other intangibles												$	4,406,259					$	(1,998,703)					$	2,407,556					$	4,311,788					$	(1,901,346)					$	2,410,442
N/A = Not Applicable

Changes in foreign exchange rates resulted in a $22.3 million increase to the net carrying values of other intangibles in the three months ended March 31, 2025. Amortization expense related to intangible assets for the three months ended March 31, 2025 and 2024 was $63.7 million and $55.8 million, respectively.

The future estimated amortization of intangible assets at March 31, 2025 is as follows (in thousands):

Remaining 2025						$	176,658
2026						222,771
2027						211,340
2028						200,840
2029						184,567
Thereafter						991,570

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- References

No definition available.

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- Definition

The entire disclosure for goodwill and intangible assets.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 30
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/350-30/tableOfContent

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/350-20/tableOfContent

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