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Intangible Assets, Net | 12 Months Ended
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Dec. 31, 2024
Intangible Assets, Net [Abstract] |
Intangible Assets, Net | 9.INTANGIBLE ASSETS, NET The following table provides the gross and net carrying amounts for each major class of intangible assets:
|  | As of December 31, 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 |  | $ | 5,164,263 |  | $ | (3,338,705) |  | $ | 1,825,558 |  | $ | 5,253,563 |  | $ | (3,394,009) |  | $ | 1,859,554
Network location intangibles |  |  | 1,896,754 |  |  | (1,333,605) |  |  | 563,149 |  |  | 1,926,226 |  |  | (1,330,183) |  |  | 596,043
Intangible assets, net |  | $ | 7,061,017 |  | $ | (4,672,310) |  | $ | 2,388,707 |  | $ | 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 $107.1 million, $397.0 million, and $406.0 million for the years ended December 31, 2024, 2023, and 2022, 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 year ended December 31, 2024 when compared to the prior years. Estimated amortization expense on the Company’s intangibles assets is as follows:
For the year ended December 31, |  |  |  |  |  |  |  | (in thousands)
2025 |  |  |  |  |  |  |  | $ | 106,371
2026 |  |  |  |  |  |  |  |  | 106,198
2027 |  |  |  |  |  |  |  |  | 106,177
2028 |  |  |  |  |  |  |  |  | 106,166
2029 |  |  |  |  |  |  |  |  | 106,166

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