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Intangible Assets (Tables)
 12 Months Ended
Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
Summary of Intangible Assets

The following table presents intangible assets as of December 31:

 

 

2024

 

 

2023

 

 

 

Gross
Carrying Amount

 

 

Accumulated Amortization

 

 

Gross
Carrying Amount

 

 

Accumulated Amortization

 

 

 

(in thousands)

 

Customer relationships

 

$

2,216,578

 

 

$

(1,198,125

)

 

$

2,105,730

 

 

$

(912,865

)

Trade names

 

 

64,500

 

 

 

(43,483

)

 

 

64,500

 

 

 

(36,459

)

Non-compete agreements

 

 

13,050

 

 

 

(8,599

)

 

 

13,050

 

 

 

(6,223

)

Developed technology

 

 

95,600

 

 

 

(35,887

)

 

 

95,600

 

 

 

(25,160

)

Total intangible assets

 

$

2,389,728

 

 

$

(1,286,094

)

 

$

2,278,880

 

 

$

(980,707

)
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)

 

2025

 

$

252,871

 

2026

 

 

220,642

 

2027

 

 

164,988

 

2028

 

 

124,052

 

2029

 

 

71,710

 

Thereafter

 

 

269,371

 

Total future net intangible amortization expense

 

$

1,103,634