Goodwill and Intangible Assets

3 Months Ended

Mar. 31, 2025

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill

As of March 31, 2025 and December 31, 2024, the balance of the Company’s goodwill was $5.2 billion, of which $4.9 billion related to the Communications reportable segment and $306.1 million related to the Segment reportable segment. There was no goodwill activity during the three months ended March 31, 2025.

Intangible assets

Intangible assets consist of the following:


	As of March 31, 2025
	Cost		Accumulated Amortization		Net
Amortizable intangible assets:	(In thousands)
Developed technology	$	388,341	$	(319,476)	$	68,865
Customer relationships	348,314		(226,709)		121,605
Supplier relationships	49,756		(37,633)		12,123
Trade names	25,968		(25,284)		684

Patent	3,968		(1,145)		2,823
Total amortizable intangible assets	816,347		(610,247)		206,100
Non-amortizable intangible assets:
Telecommunication licenses	4,920		—		4,920
Trademarks and other	295		—		295
Total	$	821,562	$	(610,247)	$	211,315


	As of December 31, 2024
	Cost		Accumulated Amortization		Net
Amortizable intangible assets:	(In thousands)
Developed technology	$	388,341	$	(306,063)	$	82,278
Customer relationships	348,314		(215,523)		132,791
Supplier relationships	49,756		(35,363)		14,393
Trade names	25,968		(25,014)		954

Patent	3,968		(1,096)		2,872
Total amortizable intangible assets	816,347		(583,059)		233,288
Non-amortizable intangible assets:
Telecommunication licenses	4,920		—		4,920
Trademarks and other	295		—		295
Total	$	821,562	$	(583,059)	$	238,503

Amortization expense was $27.2 million and $29.0 million for the three months ended March 31, 2025 and 2024, respectively.

Total estimated future amortization expense is as follows:


	As of March 31, 2025
Year Ended December 31,	(In thousands)
2025 (remaining nine months)	$	80,674
2026	42,149
2027	25,330
2028	19,055
2029	14,970
Thereafter	23,922
Total	$	206,100