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Intangible Assets, Net | 6 Months Ended
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Jun. 30, 2024
Intangible Assets, Net [Abstract] |
Intangible Assets, Net | 8.INTANGIBLE ASSETS, NET The following table provides the gross and net carrying amounts for each major class of intangible assets:
|  | As of June 30, 2024 |  | As of December 31, 2023
|  | Gross carrying |  | Accumulated |  | Net book |  | Gross carrying |  | Accumulated |  | Net book
|  | amount |  | amortization |  | value |  | amount |  | amortization |  | value
|  | (in thousands)
Current contract intangibles |  | $ | 5,096,739 |  | $ | (3,353,509) |  | $ | 1,743,230 |  | $ | 5,253,563 |  | $ | (3,394,009) |  | $ | 1,859,554
Network location intangibles |  |  | 1,900,582 |  |  | (1,329,574) |  |  | 571,008 |  |  | 1,926,226 |  |  | (1,330,183) |  |  | 596,043
Intangible assets, net |  | $ | 6,997,321 |  | $ | (4,683,083) |  | $ | 2,314,238 |  | $ | 7,179,789 |  | $ | (4,724,192) |  | $ | 2,455,597
All intangible assets noted above are included in the Company’s site leasing segment. Amortization expense relating to the intangible assets above was $26.3 million and $101.3 million for the three months ended June 30, 2024 and 2023, respectively and $53.5 million and $203.1 million for the six months ended June 30, 2024 and 2023, respectively. As a result of the Company’s revision of the estimated useful lives of its towers, the Company experienced decreased amortization expense for the three and six months ended June 30, 2024.

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