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Intangible Assets (Tables)
3 Months Ended
Mar. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Summary of Intangible Assets

The following table presents intangible assets as of:

 

 

 

March 31, 2025

 

 

December 31, 2024

 

 

 

Gross
Carrying
Amount

 

 

Accumulated Amortization

 

 

Gross
Carrying
Amount

 

 

Accumulated Amortization

 

 

 

(in thousands)

 

Customer relationships

 

$

2,495,529

 

 

$

(1,266,197

)

 

$

2,216,578

 

 

$

(1,198,125

)

Developed technology

 

 

95,600

 

 

 

(38,542

)

 

 

95,600

 

 

 

(35,887

)

Trade names

 

 

73,500

 

 

 

(45,535

)

 

 

64,500

 

 

 

(43,483

)

Non-compete agreements

 

 

13,050

 

 

 

(9,108

)

 

 

13,050

 

 

 

(8,599

)

Total intangible assets

 

$

2,677,679

 

 

$

(1,359,382

)

 

$

2,389,728

 

 

$

(1,286,094

)

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 (from April 1, 2025)

 

$

215,454

 

2026

 

 

254,830

 

2027

 

 

195,763

 

2028

 

 

150,289

 

2029

 

 

96,507

 

Thereafter

 

 

405,454

 

Total future intangible amortization expense

 

$

1,318,297