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Intangible Assets, Net
 9 Months Ended
Sep. 30, 2025
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, 2025

As of December 31, 2024

Gross carrying

Accumulated

Net book

Gross carrying

Accumulated

Net book

amount

amortization

value

amount

amortization

value

(in thousands)

Current contract intangibles

$

5,516,275

$

(3,430,160)

$

2,086,115

$

5,164,263

$

(3,338,705)

$

1,825,558

Network location intangibles

2,000,979

(1,362,049)

638,930

1,896,754

(1,333,605)

563,149

Intangible assets, net

$

7,517,254

$

(4,792,209)

$

2,725,045

$

7,061,017

$

(4,672,310)

$

2,388,707

All intangible assets noted above are included in the Company’s site leasing segment. Amortization expense relating to the intangible assets above was $29.6 million and $26.4 million for the three months ended September 30, 2025 and 2024, respectively and $83.5 million and $79.8 million for the nine months ended September 30, 2025 and 2024, respectively.