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Intangible Assets, Net
 6 Months Ended
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.