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Intangible Assets (Tables)
9 Months Ended
Sep. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]  
Summary of Intangible Assets

The following table presents intangible assets as of:

 

 

 

September 30, 2023

 

 

December 31, 2022

 

 

 

Gross
Carrying
Amount

 

 

Accumulated Amortization

 

 

Gross
Carrying
Amount

 

 

Accumulated Amortization

 

 

 

(in thousands)

 

Customer relationships

 

$

2,073,523

 

 

$

(835,594

)

 

$

2,029,955

 

 

$

(606,532

)

Trade names

 

 

64,500

 

 

 

(34,215

)

 

 

201,861

 

 

 

(164,797

)

Subcontractor relationships

 

 

 

 

 

 

 

 

5,440

 

 

 

(5,440

)

Non-compete agreements

 

 

13,050

 

 

 

(5,621

)

 

 

14,919

 

 

 

(5,685

)

Developed technology

 

 

95,600

 

 

 

(22,464

)

 

 

95,600

 

 

 

(14,377

)

Total intangible assets

 

$

2,246,673

 

 

$

(897,894

)

 

$

2,347,775

 

 

$

(796,831

)

Estimated Amortization Expense for Intangible Assets

The following table presents the estimated amortization expense for intangible assets for the years ending December 31:

 

 

 

(in thousands)

 

2023 (from October 1, 2023)

 

$

81,680

 

2024

 

 

276,740

 

2025

 

 

201,748

 

2026

 

 

174,530

 

2027

 

 

148,947

 

Thereafter

 

 

465,134

 

Total future net intangible amortization expense

 

$

1,348,779