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Intangible Assets, Net | 9 Months Ended
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Sep. 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 September 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 |  | $ | 5,293,814 |  | $ | (3,382,530) |  | $ | 1,911,284 |  | $ | 5,253,563 |  | $ | (3,394,009) |  | $ | 1,859,554
Network location intangibles |  |  | 1,919,993 |  |  | (1,338,917) |  |  | 581,076 |  |  | 1,926,226 |  |  | (1,330,183) |  |  | 596,043
Intangible assets, net |  | $ | 7,213,807 |  | $ | (4,721,447) |  | $ | 2,492,360 |  | $ | 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 $26.4 million and $100.4 million for the three months ended September 30, 2024 and 2023, respectively and $79.8 million and $303.5 million for the nine months ended September 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 nine months ended September 30, 2024 when compared to the comparable prior year period.

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