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GOODWILL AND INTANGIBLE ASSETS | 9 Months Ended
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Sep. 30, 2025
Goodwill and Intangible Assets Disclosure [Abstract] |
GOODWILL AND INTANGIBLE ASSETS | GOODWILL AND INTANGIBLE ASSETS The following table summarizes changes in goodwill during the nine months ended September 30, 2025:
(in thousands) |
Balance at December 31, 2024 | $ | 1,161,085 |
Additions | 193,291 |
Measurement period adjustments | (5,021) |
Adjustments due to currency translation and other | 8,887 |
Balance at September 30, 2025 | $ | 1,358,242 |
The following table sets forth the components of indefinite-lived and amortizable intangible assets as of September 30, 2025 and December 31, 2024.
| September 30, 2025 |  | December 31, 2024 |  |
(in thousands) | Gross |  | Accumulated Amortization |  | Carrying Value |  | Gross |  | Accumulated Amortization |  | Carrying Value |  | Useful Life in Years
Amortizable intangible assets: |  |  |  |  |  |  |  |  |  |  |  |  |
Customer contracts | $ | 736,075 |  |  | $ | (314,325) |  |  | $ | 421,750 |  |  | $ | 671,242 |  |  | $ | (288,150) |  |  | $ | 383,092 |  |  | 3-20
Trademarks and tradenames | 25,963 |  |  | (15,379) |  |  | 10,584 |  |  | 24,559 |  |  | (12,480) |  |  | 12,079 |  |  | 7-20
Other intangible assets | 28,357 |  |  | (19,529) |  |  | 8,828 |  |  | 26,507 |  |  | (17,905) |  |  | 8,602 |  |  | 3-20
Total amortizable intangible assets | $ | 790,395 |  |  | $ | (349,233) |  |  | $ | 441,162 |  |  | $ | 722,308 |  |  | $ | (318,535) |  |  | $ | 403,773 |  |  |
Indefinite-lived intangible assets |  |  |  |  | 157,029 |  |  |  |  |  |  | 137,816 |  |  |
Total intangible assets, excluding goodwill |  |  |  |  | $ | 598,191 |  |  |  |  |  |  | $ | 541,589 |  |  |
Amortization expense related to intangible assets was $23.7 million and $19.2 million for the three months ended September 30, 2025 and 2024, respectively. Amortization expense related to intangible assets was $67.4 million and $57.2 million for the nine months ended September 30, 2025 and 2024, respectively. Amortizable intangible assets are amortized on a straight-line basis over their economic useful lives. Estimated amortization expense for the existing carrying amount of amortizable intangible assets for each of the five succeeding fiscal years as of September 30, 2025 are as follows:
(in thousands) |
2025 (excluding the nine months ended September 30, 2025) | $ | 22,955 |
2026 | 91,265 |
2027 | 87,149 |
2028 | 75,990 |
2029 | 62,041 |

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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 + Details
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